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Dollar index (USDX) still very much on the front foot supported by rising US yields
Yesterday the dollar index extended its gains later in the day after the European close. That saw the index rise to its highest level of the year to date, at 103.24. Earlier in the day we repeated what we said before regarding the daily charts opening a path towards the 105 handle over time. We also repeated the usual caveat about such observations. So, the index closed in the US last night at 103.17.
The price action so far today has seen to rise from an earlier session low at 103.05 and prior to that it had come close to the high seen yesterday, peaking at 103.23. The US Treasury yields remain elevated this morning and that is supporting the trend for the index, as indeed it has all week so far. The dollar index is right now at 103.19
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