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21 May 2015
DXY drops to lows near 95.00
FXStreet (Edinburgh) - The US Dollar Index, which gauges the greenback vs. its main competitors, is shedding part of the recent gains and returning to the 95.00 region.
DXY weaker on risk sentiment
The greenback is now accelerating its downside in response to an abrupt re-emergence of the risk-on sentiment in Euroland with UK data came in above expectations and flash PMIs in the euro area coming in lower.
The dollar remained within the recent range following the neutral tone from the FOMC minutes on Wednesday, with a June lift-off still on the table albeit quite unlikely according to the Committee.
DXY relevant levels
The index is now retreating 0.34% at 95.12 with the immediate support at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14). On the upside, a break above 95.83 (high May 20) would aim for 96.18 (high Apr. 29) and finally 96.93 (high Apr.28).
DXY weaker on risk sentiment
The greenback is now accelerating its downside in response to an abrupt re-emergence of the risk-on sentiment in Euroland with UK data came in above expectations and flash PMIs in the euro area coming in lower.
The dollar remained within the recent range following the neutral tone from the FOMC minutes on Wednesday, with a June lift-off still on the table albeit quite unlikely according to the Committee.
DXY relevant levels
The index is now retreating 0.34% at 95.12 with the immediate support at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14). On the upside, a break above 95.83 (high May 20) would aim for 96.18 (high Apr. 29) and finally 96.93 (high Apr.28).