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17 May 2013
US Dollar Index up around 84.30/35
FXstreet.com (Barcelona) - Positive results in the US economy are acting as extra support for the greenback, which is closing the week with strong gains above 84.00 the figure.
“The US dollar is finishing the week firmly for two reasons. The first is positive developments for the dollar, though we are skeptical of how quickly the Fed tapers off its purchases given the subdued price pressures and slow gains in non-farm payrolls… The second reason is a deterioration of the macro-fundamentals in Europe and the dollar bloc, along with no major objection to continued yen weakness”, remarked the BBH Global Currency Strategy Team.
At the moment, the index is up 0.75% at 84.34 and according to tradingcentral.com, the next barriers up line up at 84.50 and 84.70 while support levels align at 83.55 and 83.30.
“The US dollar is finishing the week firmly for two reasons. The first is positive developments for the dollar, though we are skeptical of how quickly the Fed tapers off its purchases given the subdued price pressures and slow gains in non-farm payrolls… The second reason is a deterioration of the macro-fundamentals in Europe and the dollar bloc, along with no major objection to continued yen weakness”, remarked the BBH Global Currency Strategy Team.
At the moment, the index is up 0.75% at 84.34 and according to tradingcentral.com, the next barriers up line up at 84.50 and 84.70 while support levels align at 83.55 and 83.30.