11 Oct 2013
US Dollar Index clings to 80.40
FXstreet.com (Edinburgh) -The greenback, in terms of the US Dollar Index, is retreating for the first time after three consecutive sessions of gains, is now showing some resiliency around 80.40.
DXY attention on US developments
The risk aversion continues to shrink amongst investors on Friday, dragging the world’s reserve from yesterday’s peaks around 80.60 to the current area of 80.40/45, amidst rising hopes of a re-opening of the US federal Government shutdown and a raise of the debt ceiling. “ The ‘constructive’ talks between the Republicans and Democrats yesterday and the indications that these will be continued today has strengthened hopes that the US debt ceiling could be raised before the start of next week; even though there is currently risk that this solution could prove to be temporary”, observed Jane Foley, Strategist at Rabobank.
DXY key levels
The index is now losing 0.08% at 80.41 and a breakdown of 79.49 (low Feb.6) would aim for 78.93 (low Feb.1) and finally 78.60 (Sep.14 2012). On the upside, the initial resistance aligns at 80.64 (high Sep.26) followed by 81.35 (high Sep.17) and then 81.93 (high Sep11).
DXY attention on US developments
The risk aversion continues to shrink amongst investors on Friday, dragging the world’s reserve from yesterday’s peaks around 80.60 to the current area of 80.40/45, amidst rising hopes of a re-opening of the US federal Government shutdown and a raise of the debt ceiling. “ The ‘constructive’ talks between the Republicans and Democrats yesterday and the indications that these will be continued today has strengthened hopes that the US debt ceiling could be raised before the start of next week; even though there is currently risk that this solution could prove to be temporary”, observed Jane Foley, Strategist at Rabobank.
DXY key levels
The index is now losing 0.08% at 80.41 and a breakdown of 79.49 (low Feb.6) would aim for 78.93 (low Feb.1) and finally 78.60 (Sep.14 2012). On the upside, the initial resistance aligns at 80.64 (high Sep.26) followed by 81.35 (high Sep.17) and then 81.93 (high Sep11).