Dollar index (USDX) extends gains above 102.00

The rebound in the dollar today sure has gathered pace this afternoon, as the EUR/USD falls back below 1.1150 and extends that as low as 1.1136 a short while ago. That has also ensured there is no further rebound in the GBP/USD and looks like it has stymied the chance of a daily, weekly and monthly close above its 1.3430, 200 day moving average. 

The upshot for the broader dollar is the index has recovered back above the 102.00 handle, trading as high as 102.08 so far. This probably has much to do with a degree of month-end dollar demand as much as it has to do with a flight to the US currency as a risk haven, and perhaps even more so, as US stock markets continue to remain under significant pressure this afternoon and there is a total absence of any dip- buyers so far. That is as we suggested might be the case earlier today. The dollar index is currently trading at 102.02