US Dollar retreats from highs, near 97.30

The greenback, tracked by the US Dollar Index, is trading on the defensive at the beginning of the week, deflating from recent highs and testing the 97.40 area.

US Dollar capped near 97.60

The USD-rally seems to be taking a breather on Monday after climbing to fresh 4-month peaks in the 97.60 region during overnight trade.

Solid results from the US docket plus favourable sentiment during recent weeks has been supporting the USD upside momentum, helped at the same time by easing prospects from main central banks (BoJ, BoE and ECB).

Nothing worth mentioning data wise today, with the Dallas Fed Manufacturing index only due fore release later in the NA session.

US Dollar relevant levels

The index is losing 0.12% at 97.35 and a breakdown of 96.77 (low Jul.21) would expose 96.62 (200-day sma) and then 95.38 (low Jul.5). On the flip side, the immediate hurdle aligns at 97.62 (high Jul.25) followed by 98.58 (high Mar.1) and finally 99.95 (high Jan.21).