US Dollar bounces off lows, regains 94.60
- The index manages to attract some dip buyers in the 94.40 region.
- Yields of the US 10-year reference sidelined above 2.91%.
- Markit’s advanced June Manufacturing PMI dropped to 54.6.
The US Dollar Index (DXY), which measures the buck vs. a basket of its main rivals, remains on the defensive albeit it has managed to rebound from daily lows in the 94.40 area.
US Dollar weak on sentiment, data
The index is down for the second session in a row so far today, prolonging the rejection from Thursday’s fresh 2018 tops beyond 95.50 and on its way to close the week in the negative territory.
In the same line, yields of the US 10-year note are extending the sideline theme so far today amidst lack of relevant headlines and shrinking effervescence on the US-China trade conflict.
Adding to the downbeat mood around the buck, Markit’s advanced manufacturing PMI for the month of June came in at 54.6, printing at the same time the lowest level in the last seven months.
US Dollar relevant levels
As of writing the index is down 0.24% at 94.65 and a breach of 94.47 (low Jun.22) would open the door to 94.24 (21-day sma) and then 93.19 (low Jun.13). On the upside, the next hurdle emerges at 95.53 (2018 high Jun.22) seconded by 96.00 (psychological level) and finally 96.51 (high Jul.4 2017).