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13 Aug 2013
US Dollar Index cheerful around 81.80
FXstreet.com (Edinburgh) -The greenback, tracked by the US Dollar Index, is now cashing up some earlier gains, easing ground after peaking near 81.90 post-US data.
DXY extends the ascent
The USD rally remains intact so far, bolstered by decent results from the US retailers during July and the small improvement in the business optimism gauged by NFIB in the same period. “Going forward we do expect that the factors for a USD recovery are mounting. By year end the Fed is likely to have started to taper the size of its monthly asset purchases. This will be coincident with more convincing signs of strength in the US economy… Overall 2014 is likely to be a better year for the USD”, signalled Jane Foley, Strategist at Rabobank.
DXY key levels
The index is now advancing 0.79% at 81.77 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the flip side, support levels align at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20).
DXY extends the ascent
The USD rally remains intact so far, bolstered by decent results from the US retailers during July and the small improvement in the business optimism gauged by NFIB in the same period. “Going forward we do expect that the factors for a USD recovery are mounting. By year end the Fed is likely to have started to taper the size of its monthly asset purchases. This will be coincident with more convincing signs of strength in the US economy… Overall 2014 is likely to be a better year for the USD”, signalled Jane Foley, Strategist at Rabobank.
DXY key levels
The index is now advancing 0.79% at 81.77 and a break above 82.50 (high Aug.2) would expose 83.12 (high Jul.15) and then 84.75 (high Jul.9). On the flip side, support levels align at 80.86 (low Aug.8) followed by 80.50 (low Jun.19) and then 80.27 (low Feb.20).