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Dollar index (USDX) close to technical support this morning
As I write this update, the USD index (USDX) is very close to testing its 200 day moving average (now in place at 103.69). The index closed in the US last night at 103.82 after again failing to make any headway above and beyond 104. The risks of a break below 103.69 look live right now and it could deliver some extension through that level. That remains to be seen, but the failure of higher US yields to have a positive impact on the wider dollar is noticeable just now. Once again it looks like the Yen is leading the way in terms of the major dollar counterparts forcing the index lower this morning
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