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7 May 2013
Forex: US Dollar Index flat around 82.30/35
FXstreet.com (Barcelona) - The US Dollar Index is trading almost unchanged on Tuesday, gyrating around 82.30/35 as markets remain directionless so far.
According to M.Mohi-uddin, Strategist at UBS, the bank’s estimated date for the Fed to start scaling back its monthly purchases was October, in contrast with the latest statement by the Fed around year-end. “But forward-looking financial markets are still likely to price in the Fed shifting stance well before the end of 2013. Moreover, with the ECB and Bank of Japan also taking further easing measures, we continue to prefer the dollar amongst the major currencies”.
At the moment, the index is losing 0.04% at 82.34.
According to tradincentral.com, the next support levels align at 81.90, 81.75, 81.60 while resistance levels are located at 82.45 and 82.60.
According to M.Mohi-uddin, Strategist at UBS, the bank’s estimated date for the Fed to start scaling back its monthly purchases was October, in contrast with the latest statement by the Fed around year-end. “But forward-looking financial markets are still likely to price in the Fed shifting stance well before the end of 2013. Moreover, with the ECB and Bank of Japan also taking further easing measures, we continue to prefer the dollar amongst the major currencies”.
At the moment, the index is losing 0.04% at 82.34.
According to tradincentral.com, the next support levels align at 81.90, 81.75, 81.60 while resistance levels are located at 82.45 and 82.60.