The Index succeeded in rebounding from the bottom of the 2017 level at around 92.30 at the start of the Asian session today, though it remains fragile following Fed Chair Janet Yellen‘s innocuous speech at the Jackson Hole Symposium on Friday.
The Fed‘s expectation of interest-rate movements this year seems to be declining among investors, DXY and the US are hurting money markets. 10-year US bond yields rebounded above 2.17% after bottoming out near 2.16%.
In addition, the next round of the Trump-NAFTA conflict seems to be optimistic about the extra fiscal incentives, such as future tax reform and infrastructure investments, all of which are creating weight on the USD.
On the data front, US trade balance of goods and the Dallas Fed Manufacturing Index are expected for July.
The US Dollar Index is currently trading at 92.44 with a 0.3% loss.
Significant technical levels for DXY
For the DXY levels of 92.31 (28 August bottom 2017), 91.91 (3 May dip 2016) and 91.51 (January 15 dip 2015), 93.25 (10-day SMA), 93.44 (25 August summit) and 94.14 Resistance.