US Dollar extends the drop to 94.50 ahead of data
|- The index drops to multi-day lows near 94.50.
- US 10-year yields test fresh highs in the 2.92% area.
- US flash Manufacturing/Services PMI next on tap.
The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main rivals, is extending the drop and posts fresh multi-day lows in the mid-94.00s.
US Dollar looks to data, trade
The index is down for the second session in a row at the end of the week, coming down from yesterday’s fresh 11-month tops just beyond 95.50.
The selling momentum in the buck picked up pace in tandem with shrinking concerns on the US-China trade front following escalating tensions at the beginning of the week.
In the meantime, yields of the key US 10-year note are inching higher today, navigating in session tops around the 2.92% area.
Later in the NA session, Markit will publish its flash figures for the Manufacturing/Services PMI for the current month.
US Dollar relevant levels
As of writing the index is down 0.33% at 94.56 and a breach of 94.47 (low Jun.22) would open the door to 94.24 (21-day sma) and then 93.19 (low Jun.13). On the upside, the next hurdle emerges at 95.53 (2018 high Jun.22) seconded by 96.00 (psychological level) and finally 96.51 (high Jul.4 2017).
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