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Dollar index edges back above 99
The dollar has been holding gains so far today and that has been led by the USD/JPY. Earlier the USD/JPY traded as high as 159.28. That gain has maintained pressure on the EUR/USD and the GBP/USD and in terms of dollar index components, the move higher in the USD/CAD has also helped the Dollar index gain.
We do note that earlier the USD/CAD traded at its 200 day moving average (1.3844) which we covered earlier, but so far that level has capped the topside. It is back close to that as we write. So, this all adds up to a push above the 99 handle for the dollar index. It has traded as high as 99.02 so far today. It is currently trading at 99.01
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Dollar index edges back above 99
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