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Dollar index (USDX) trying to battle back but doubts remain
Over the course of the morning the dollar index has been trying to recover and that has seen it trade modestly higher. We say Modestly, because that is all it is at this stage. The US data releases at 12.30pm GMT might be supportive, but then again they might not and that is probably the key for direction this afternoon.
We said before, that technically this thing is under pressure and not positive in terms of the immediate set-up. So, as things stand right now we view the price action so far this morning as corrective and little else. If that changes then we shall let you know. The dollar index is currently trading at 100.59
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