US Dollar ignores data, near tops around 93.00

The bid tone stays unchanged around the greenback on Tuesday, advancing to fresh tops just below the 93.00 handle when tracked by the US Dollar Index (DXY).

US Dollar bid on USTs

The index is clinching fresh 4-week tops around the 93.00 handle following a moderate rebound in yields of the US 10-year benchmark, which are navigating daily highs around 2.24%.

Supporting the upside, the sell off around EUR remains everything but abated, always amidst fresh concerns over German politics, particularly following Sunday’s elections.

USD also managed to quickly shrug off disappointing results from US new home sales, dropping to 560K units in August (or 3.4%), while the Conference Board’s consumer confidence gauge came it at 119.8 for the current month.

Ahead in the day, the speech by Chief Janet Yellen should keep the attention on the buck, as inflation and monetary policy will be in centre stage.

US Dollar relevant levels

As of writing the index is gaining 0.51% at 92.91 and a break above 93.15 (55-day sma) would expose 93.35 (high Aug.31) and then 94.03 (23.6% Fibo of the 2017 drop). On the other hand, the immediate support lines up at 92.26 (10-day sma) seconded by 91.61 (low Sep.20) and finally 91.01 (2017 low Sep.8).