USD Index off highs, still near 98.00

USD Index off highs, still near 98.00
FXStreet (Edinburgh) – The USD Index, which gauges the greenback vs. its main rivals, continues its march north at the end of the week, currently trading in the upper bound of the weekly range.

USD Index firmer on Yellen, data

The index is managing to revert two consecutive weeks of losses and clinch the boundaries of 98.00 the figure at the same time, levels last seen in late April, all bolstered by a solid bid tone around the dollar and a hawkish testimony by Chair Yellen.

Data wise in the US economy, inflation figures came in line with consensus for the month of June, while Housing Starts and Building Permits have surprised investors to the upside. On the not so bright side, the Consumer Sentiment gauged by the Reuters/Michigan index has missed expectations for July, coming in at 93.3 vs. 97.0 anticipated.

USD Index Index relevant levels

As of writing the index is advancing 0.14% at 97.80 with the next hurdle at 97.91 (high Jul.17) followed by 98.46 (high Apr.21) and then 99.36 (high Apr.15). On the downside, a break below 95.08 (low Jun.26) would aim for 94.86 (low Jun.30) and finally 94.72 (low Jun.29).
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Source: FXStreet