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Dollar index (USDX) reclaims the 107 handle for the first time in over a year
Following comments made in the previous update, regarding the price action on the Dollar index (USDX), it has now traded to just above the 107 handle for the first time since it peaked around 107.35 in October last year. So, as you can see, it has been quite a long road to get back above 107. So, clearly that 107.35 level is the next hurdle on the topside, should this move continue to extend. The EUR/USD just fell very close to the 1.05 handle a few moments ago and it is the main driver for the Dollar index managing to reclaim that 107 level today. The index has just set a new 2024 high at 107.05, but the EUR/USD is just lifting right now from a low at 1.0502
Market News
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