US Dollar keeps highs near 93.40

Tracked by the US Dollar Index, the greenback manages well to keep business in the upper end of the daily range in the 93.30/40 band.

US Dollar focus on data, FOMC

DXY is reverting a 3-day negative streak so far today, helped by the positive performance from yields in the US money markets. The key 10-year reference is extending the rebound from last week’s lows near 2.18% to today’s peaks above 2.22%, although it seems to have met a tough resistance around those levels.

In addition, some profit-taking mood in the risk-associated space, particularly around EUR-crosses, is also collaborating with the upside in the buck.

Further news around USD saw the speculative community increasing its net short position to the highest level since January 2013 in the week ended on August 8, as per the latest CFTC report.

Looking ahead, it will be an interesting week for the greenback in light of relevant releases in the docket, FOMC minutes (Wednesday) and Fedspeak.

US Dollar relevant levels

The index is gaining 0.35% at 93.32 and a break above 93.51 (21-day sma) would target 93.78(high Aug.8) en route to for 94.11 (high Jul.26). On the flip side, the next support lines up at 92.83 (low Aug.11) seconded by 92.56 (low Aug.3) and finally 92.39 (2017 low Aug.2).