US Dollar Index: DXY bears attack 103.00 on hopes of softer United States inflation DollarIndex Fed Inflation SEO CPI
officials have been too hawkish of late, which in turn allows the Euro to remain firmer and shift funds from the US Dollar. Among the ECB hawks, Robert Holzmann, Francois Villeroy de Galhau and Olli Rehn were the latest ones to propel the bloc’s currency and weigh on the DXY.activity numbers and sluggish wage growth last Friday, the recent second-tier figures have also been mixed and exerted downside pressure on the US Dollar Index.
In doing so, the DXY fades the week-start bounce off the 102.94 level, which initially took clues from the oversold conditions of the Relative Strength Index line, placed at 14. However, failure to keep the earlier corrective bounce and a U-turn from the aforementioned key hurdles, namely the ascending trend line from mid-December and the 21-SMA, keeps the DXY bears hopeful of witnessing a fresh multi-month low, currently around 102.95.
Following that, a southward trajectory towards the 102.00 round figure and a May 2022 low of 101.30 can’t be ruled out.
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