US Dollar moves to session highs near 90.30

• The index is extending the up move to the 90.30 region.
• US 10-year yields flirting with tops near 2.82%.
• US Initial Claims, Trade Balance figures next of relevance.

Measured by the US Dollar Index, the greenback is pushing higher to the 90.25/30 band amidst a persistent risk on trade.

US Dollar focused on data, US-China

Alleviating concerns over a potential US-China trade war are now bolstering the demand for the buck and thus pushing the index further north of the recently broken 90.00 milestone.

The up move comes amidst a pick up in the risk-on sentiment, which is also fuelling the sharp rebound in USD/JPY, as outflows from the safe haven currency keep accelerating. In addition, yields of the key US 10-year benchmark are prolonging the bounce off recent lows and are challenging peaks in the boundaries of the 2.82% mark.

Data wise today, the usual weekly report on the US labour market is due seconded by Trade Balance figures for the month of February and the speech by Atlanta Fed R.Bostic (voter, centrist).

US Dollar relevant levels

As of writing the index is up 0.20% at 90.32 and a break above 90.44 (high Mar.20) would target 90.93 (high Mar.1) and finally 91.00 (high Jan.18). On the flip side, immediate contention lies at 88.94 (low Mar.27) seconded by 88.44 (low Jan.26) and then 88.25 (2018 low Feb.16).