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Jun 3, 2013
US Dollar Index stabilizes around 82.50/60
FXstreet.com (Barcelona) - The greenback, measured by the US Dollar Index, is trading on the back foot on Monday, dragged lower after the US ISM manufacturing came in short of expectations.
“We think there are a number of consequences that can result from Fed taper expectations—a higher USD, somewhat softer commodities, higher US yields and a steeper yield curve among them. In addition, we think that the potential for reduced asset purchases may mean that suppressed levels of market volatility will (continue to) rise, reversing the trend in equity and FX vol that has followed every iteration of QE since 2008”, explained S.Osborne and G.Moore, FX Strategists at TD Securities.
As of writing, the index is losing 0.96% at 82.59 and according to tradingcentral.com, the immediate support is at 82.35 and 82.20 while resistance levels are located at 83.45, 83.70 and 83.95.
“We think there are a number of consequences that can result from Fed taper expectations—a higher USD, somewhat softer commodities, higher US yields and a steeper yield curve among them. In addition, we think that the potential for reduced asset purchases may mean that suppressed levels of market volatility will (continue to) rise, reversing the trend in equity and FX vol that has followed every iteration of QE since 2008”, explained S.Osborne and G.Moore, FX Strategists at TD Securities.
As of writing, the index is losing 0.96% at 82.59 and according to tradingcentral.com, the immediate support is at 82.35 and 82.20 while resistance levels are located at 83.45, 83.70 and 83.95.