FXStreet The US Dollar Index, the Greenback versus six other major currencies, compares, tests on Tuesday the session lows at around 97,20.
U.S. Dollar: gains limited in 97,70
The Greenback tipped off to the bottom, after he had failed at a jump above the session high at 97,70. In response, there was a reversal of the recent gains. Finally, the Index closed on 97,23 and to 0.10 percent in the Minus.
The downward impulse intensified after mixed US economic data. Both the price indexes of personal consumption expenditure as well as consumer spending and incomes were able to attract no new buyers. In addition, the Conference Board collected consumer was published in the trust, below the market expectation. By the reporting month of may, the Index 119.4 (revised from EUR 120.3) to EUR 117.9 points.
The higher-risk investment classes welcomed the recent downward movement of the American currency. However, the US is likely to be Dollar only briefly under pressure as the speculation on a rate hike by the Federal Reserve to pause in June.
In fact, investors estimate the likelihood of such a step, to just under 90 percent, as the CME Group FedWatch Tool.
In addition, the Fed chief from Dallas, Robert Kaplan (voting said entitled, hawkish), two interest rate hikes this year would be acceptable. In the further course of the Session yet, the FOMC is expressing a member of the L. Brainard to monetary policy.
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The next supports lie at 96,70 (Deep 23. May), 95,91 (Deep 09. November 2016) and 94,95 (Deep 22. September 2016). Resistors, however, are at 97,64 (High 30. May), 98,01 (High-17. To find may) and 98,14 (20-day line).
** FXStreet News Editorial, FXStreet**