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Forex: US Dollar Index up around 82.85/90

FXstreet.com (Barcelona) - The greenback, gauged by the US Dollar Index, is advancing firmly against its competitors on Monday, trimming gains around 82.85/90 after printing fresh intraday highs above 83.00.

“Our view that the US Dollar is set for an multi-quarter period of relative strength against all the major currencies has been predicated on ongoing and accelerating economic recovery in the United States, a scaling-back of QE at some point this calendar year, a determination on the part of the Japanese authorities to aggressively depreciate their own currency and the pursuit of self-defeating “expansionary fiscal contraction” in Europe”, assessed the NAB research team.

At the moment, the index is up 0.22% at 82.86 and according to tradingcentral.com, the next resistance levels line up at 83.00 and 83.20; support levels align at 82.55, 82.35 and 82.10.

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