US Dollar wobbling around 93.30
- USD supported by upbeat GDP.
- US 10-year yields jumped near 2.40%.
- DXY retreats from 5-day tops.
The greenback, in terms of the US Dollar Index (DXY), has faded the earlier spike to the upper end of the range in the 93.40/50 band.
US Dollar volatile after data
The index remains firm so far this week, retaking the 93.00 handle and above while recording at the same time fresh multi-day peaks in the vicinity of the 93.40 region.
Expectations around the US tax reform stay on the rise as the Senate should vote on its proposed bill on Thursday. In the same line, yesterday’s meeting between President Trump and Senate Republicans seem to have added to the already growing optimism on the matter.
USD found extra oxygen as well following the upbeat results from the second revision of the US GDP, showing the economy is now expected to expand at an annualized 3.3% during the July-September period.
US Dollar relevant levels
As of writing the index is losing 0.03% at 93.24 and a break below 92.50 (low Nov.27) would open the door to 91.78 (low Sep.22) and then 91.53 (low Sep.20). On the other hand, the next hurdle emerges at 93.33 (high Nov.28) seconded by 93.41 (10-day sma) and then 94.03 (23.6% Fibo of 2017 drop). On the flip side,