US Dollar Index bounces off lows, regains 94.60

• The index finds support in the mid-94.00s so far.
• US 10-year yields dip below the 2.85% level.
• US Consumer Sentiment due later in the NA session.

The greenback, in terms of the US Dollar Index (DXY), is alternating gains with losses at the end of the week and is now hovering over the 94.60 area.

US Dollar Index focused on EM FX, data

The index has resumed the downside after yesterday’s positive session and following an unsuccessful attempt retake the critical barrier at 95.00 the figure.

Heightened concerns in the EM FX space gave legs to the demand for the buck on Thursday, particularly in response to the sharp sell off in the Turkish Lira (TRY) and the Argentenean Peso (ARS). The up move, however, run out of steam just ahead of the 95.00 mark, motivating the ongoing knee jerk.

Moving forward, the final reading of the US Consumer Sentiment gauged by the U-Mich index is only due later in the NA docket.

US Dollar relevant levels

As of writing the index is down 0.07% at 94.61 facing the next support at 94.45 (low Aug.28) seconded by 94.20 (38.2% Fibo of the 2017-2018 drop) and then 94.08 (low Jul.26). On the upside, a breakout of 95.01 (55-day SMA) would open the door to 95.51 (21-day SMA) and finally 95.71 (high Aug.23).

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