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US Q3 GDP expected to be revised slightly higher but will it help the dollar index?

Later today at 1.30pm GMT the latest US Q3 GDP revision will be released. This is forecast to the revised slightly higher, from 4.9% to 5%. Right now that looks like it will need to be revised even higher than that to assist the dollar. If` nothing else the 3.5% deflator will need to be higher too. Yesterday the fall in the dollar was across the board and that is well expressed by looking at the price action in the Dollar index (USDX). The index fell back to 102.61. A later, modest rebound took it back above 102.90, before another lurch lower unfolded earlier today. That has taken the index down to 102.46 so far. In the process that has taken it past a technical support level, at 102.54. The drop in the dollar does look a little overdone and much of this has surely to do with the month and and of course the fall in US yields.The latest falls have also been greatly assisted by recent dovish Fed commentary, particularly from Chris Waller, as was covered here yesterday afternoon. The comments from Waller could have come at a worse time for the dollar either, with so many gunning for it into the month end. 

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