Dollar index (USDX) falls sharply below 100

Updates so far this week on the Dollar index (USDX) have been noting the importance of the 100 price point. Well, that has now been taken out on the downside today and as expected the fall back below this important level did tie in with a breakout above 1.13 in the EUR/USD. However, the corresponding rises in the Pound and the Yen versus the US currency have also added to that downside pressure on the index. So, the dollar has taken a significant hit this morning and the index has now traded below 99.50. This reversal could prove to be even more significant, unless it can climb back above that 100 level. This immediate risks would suggest that it might not be able to do that.