US Dollar losing the grip near 100.50

The US Dollar Index – which gauges the buck vs. its main competitors – is trading almost unchanged on Wednesday, keeping the trade around the 100.60/50 area.

US Dollar rejected from 101.20

The index is prolonging its negative start of the week, coming down from tops in the 101.20 area although it seems to have found some decent support at yesterday’s lows near 100.50.

The poor performance of yields in the US money markets keeps plotting against a more sustainable recovery in the buck, as the 10-year reference has dropped once again to sub-2.30% levels, threatening to test YTD lows around 2.27% (April 7).

Nothing appealing from the US docket, with only Export/Import Prices due along with the speech by Dallas Fed R.Kaplan (voter, hawkish).

US Dollar relevant levels

The index is losing 0.06% at 100.57 facing the initial support at 100.46 (50% Fibo of the March drop) followed by 100.28 (low Apr.6) and finally 100.13 (20-days sma). On the other hand, a break above 101.22 (high Apr.10) would aim for 101.48 (78.6% Fibo of the March drop) and then 101.66 (high Mar.14).