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21 Mar 2013
Forex: US Dollar Index flat below 83.00
FXstreet.com (Barcelona) - The US Dollar Index, which tracks the greenback against its major rivals, is posting marginal losses on Thursday, trimming weekly gains from highs above 83.00
Decent gains in the US manufacturing sector gauged by the Markit PMI and the Philadelphia index failed to bolster the recent upside of the greenback, running out of steam in the boundaries of 83.20
Regarding the FOMC gathering held yesterday, Chief Analyst at Danske Bank, Lars Christensen argued “Consensus in the market appears to be for the Fed to scale down asset purchases before year-end but this is unlikely to materialise this side of the summer which means that pressure remains on the dollar from monetary policy”.
At the moment, the index is down 0.02% at 82.93 and according to tradingcentral.com, the next support lines up at 82.55, 82.40 and 82.15; while resistance levels align at 83.05, 83.35 and 83.60
Decent gains in the US manufacturing sector gauged by the Markit PMI and the Philadelphia index failed to bolster the recent upside of the greenback, running out of steam in the boundaries of 83.20
Regarding the FOMC gathering held yesterday, Chief Analyst at Danske Bank, Lars Christensen argued “Consensus in the market appears to be for the Fed to scale down asset purchases before year-end but this is unlikely to materialise this side of the summer which means that pressure remains on the dollar from monetary policy”.
At the moment, the index is down 0.02% at 82.93 and according to tradingcentral.com, the next support lines up at 82.55, 82.40 and 82.15; while resistance levels align at 83.05, 83.35 and 83.60