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11 Apr 2013
Forex: US Dollar Index testing lows
FXstreet.com (Barcelona) - The increasing risk appetite continues to punish the greenback on Thursday, dragging it to session lows around 82.20/25 gauged by the US Dollar Index.
“We suspect many observers give too much credence to the FOMC minutes where the ongoing discussion of exit strategies and timing are mentioned. Bernanke's warning about the "spring slump" is important and indicates it is premature to expect the Fed to begin tapering off the asset purchases any time soon”, commented the research team at Brown Brothers Harriman.
At the moment, the index is down 0.45% at 82.26 and in the view of tradingcentral.com a dip below 82.05 would expose 81.90 and then 81.75; on the flip side, resistance levels align at 82.40, 82.60 and 82.80.
“We suspect many observers give too much credence to the FOMC minutes where the ongoing discussion of exit strategies and timing are mentioned. Bernanke's warning about the "spring slump" is important and indicates it is premature to expect the Fed to begin tapering off the asset purchases any time soon”, commented the research team at Brown Brothers Harriman.
At the moment, the index is down 0.45% at 82.26 and in the view of tradingcentral.com a dip below 82.05 would expose 81.90 and then 81.75; on the flip side, resistance levels align at 82.40, 82.60 and 82.80.