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Dollar index (USDX) edges higher this morning

Earlier today the Dollar was edging a bit lower and that was best reflected in the price action of the USD/JPY. That pair fell back to a session low at 144.09. However, it has rebounded back above 144.50 since then and that move has helped to push both the EUR/USD and GBP/USD lower. The GBP/USD has traded below 1.27 now and the EUR/USD has just hit a session low of 1.0930. The impact of all these moves has been reflected in the Dollar index (USDX). Now on Friday the index went from one extreme to the other, rising to a high at 103.10, only to hand back that gain and more, after it subsequently slumped to a low at 101.98. That is quite a move for the index on any given session. It has rebounded since and just now lifted back above 102.50.So, as you can see it is pretty much in the middle of the range seen on Friday now and overall it looks rather pivotal in between 102 and 103 for the time being. It is surely going to make a move one way or the other later this week and the data that could deliver that comes on Thursday- the latest US CPI report. There will be more to add on that as the week unfolds 
 

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