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Forex: US Dollar Index recovering ground AROUND 82.20/25

The greenback, measured by the US Dollar Index, is trimming previous losses on Wednesday, as risk aversion is creeping back to the markets.

In light of today’s US docket, Currency Analyst David Song at DailyFX expects the USD to gather further traction and the Beige Book to show a better prospect for the US economy.
“As the outlook fro growth and inflation picks up, we should see the bullish sentiment surrounding the greenback gather pace, and the FOMC appears tobe slowly moving away from its easing circle as the US economy gets on a more sustainable path”, concluded the expert.

At the moment, the US Dollar Index is up 0.10% at 82.23 facing the next resistance at 82.29 (high Mar.5) ahead of 82.52 (high Mar.4).
On the flip side, a breach of 81.95 (low Mar.5) would expose 81.84 (low Mar.1).

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