US Dollar breaks below 94.00, fresh 2017 lows

The selling pressure around the greenback is now picking up extra pace, dragging the US Dollar Index (DXY) to fresh lows in the sub-94.00 area.

US Dollar weaker on Trump’s headline

The buck tumbled further after special counsel Robert Mueller said on Thursday he will expand probe into Trump’s business transactions, quickly dragging the index to test fresh lows near 93.90, levels last traded over a year ago.

USD has broken below Tuesday’s previous YTD lows in the vicinity of 94.20 soon after the headlines hit the wires, forcing at the same time yields of the US-10 year reference to pierce 2.25%.

DXY was already weak following the hawkish remarks from ECB’s Mario Draghi at his press conference earlier today, fully fading initial gains to the 94.70/75 band.

US Dollar relevant levels

The index is losing 0.66% at 94.02 and a break below 93.41 (low Jun.8 2016) would open the door to 93.03 (low Jun.23 2016) and then 91.88 (2016 low May 3). On the upside, the next hurdle emerges at 94.74 (high Jul.20) seconded by 95.01 (10-day sma) and finally 96.64 (21-day sma).