The US dollar’s day started with a drop. During trading in Asia, the US dollar index (DXY) fell to 95.46. During trading in Europe, it recovered all its losses, restoring to 95.88. On the back of a strengthening dollar, the euro/dollar rate has fallen from 1.1456 to 1.1372 (-84 pips). Sellers didn’t manage to break the 1.1380 support and the rate restored to 1.1407.
In Europe, the British pound is trading up thanks to a slide on the euro/pound cross. At the time of writing this review, the pound is selling at 1.2936 USD (intraday high: 1.2952).
Trader sentiment on the USD/CAD and CHF/EUR pairs has improved, while it’s decreased on the NZD/AUD and GBP/JPY pairs.
Now, traders await Janet Yellen’s testimony as well as the publication of the US’s PPI and data on initial jobless claims.