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Dollar index (USDX) still under pressure for spot month-end

The dollar is trying to hold its own, but it has remained under a degree of pressure all day so far. It is worth remembering that today is spot month, quarter and Year end. Now I said last week, that several models were targeting the potential for year-end rebalancing in particular to deliver dollar outflow and as far as I can see there have been no reports around to necessarily detract from that, assuming those reports are correct in the first place. The Dollar index (USDX) has traded to below 101.40 now and in terms of the next support, there is not that much in place ahead of the lows seen July, at 99.57, bar a couple of later daily lows in between now and that point. Look, I am not suggesting the dollar is now going to take out 99.57, but more so to say there is not much in the way of support from here on, should it choose to do so. That said, I am not yet convinced about this 101.42 being truly busted yet either. Perhaps the telling time will be the 4pm London fix, to see if that really does unfold and I shall be on hand then to report anything significant that might unfold 
 

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