US Dollar eases from highs, around 101.30 ahead of Fedspeak

The greenback, tracked by the US Dollar Index, keeps its bullishness intact at the end of the week, currently hovering over the 101.30/35 band.

US Dollar attention to Fedspeak

After climbing to levels last seen almost 15 years ago near 101.50, the index has surrendered some pips and is now returning to the 101.30 area albeit keeping unchanged its buying bias and extending the up move for the second consecutive week.

Positive results from the US docket on Thursday, expectations of a rate hike by the Federal Reserve in December on the rise and yesterday’s testimony by Chair J.Yellen in line with that view have boosted further the upside in USD, which has quickly left behind the key barrier at 101.00 the figure.

Looking ahead, speeches by St. Louis Fed J.Bullard (voter, dovish), New York Fed W. Dudley (permanent voter, neutral), KC Fed E.George (voter, hawkish) and Dallas Fed R.Kaplan (2017 voter, neutral) should keep markets focused on the buck.

US Dollar relevant levels

The index is gaining 0.26% at 101.26 facing the next hurdle at 102.19 (monthly high Apr.2003) followed by 102.68 (monthly high March 2003). On the flip side, a breakdown of 99.38 (low Nov.14) would open the door to 99.13 (high Nov.11) and finally 98.80 (20-day sma).

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