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US Dollar through 99.00 on US NFP

FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, has advanced to fresh highs above the 99.00 handle following a strong report from the US labour market on Friday.

US Dollar stronger, closer to 100.00

Very auspicious releases in the US labour market – with Payrolls coming in at 271K in October – are sustaining the rally in US Treasuries at the end of the week, and thus collaborating with the increasing bid tone in the US dollar.

Today’s positive results from the US docket have given further legs to the probabilities of a Fed’s lift-off next month, which have soared to 70% in the wake of the releases.

US Dollar significant levels

As of writing the US Dollar Index is advancing 1.09% at 99.16 facing the next hurdle at 100.00 (psychological level) ahead of 100.38 (2015 high Mar.13). On the flip side, a breach of 96.51 (low Oct.28) would aim for 96.33 (200-day sma) and then 96.04 (55-day sma).

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