US Dollar Index falls to fresh 4-month lows despite US data

Jan 13, 2018
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The greenback extended losses on Friday against its European rivals and the yen, although it managed to stabilize versus commodity currencies.

The US [URL deleted] Dollar Index (spot) recently dropped to 91.20, the lowest intraday level since September 8. The index is falling for the third consecutive day. Today it lost a key technical level: the 91.75/80 area that capped the downside many times during the current month.

The DXY came under pressure yesterday with EUR’s rally and also after an unexpected slide in the PPI index. Today’s US data came most in line with expectation with the[URL deleted] core CPI showing numbers above consensus and [URL deleted] retail sales matching estimations but the report contained positive revisions to November figures.

The modest upbeat data boosted the greenback but the recovery was short-lived. After reaching 91.50 the DXY turned lower again. As of writing it was trading at 91.30, headed toward the lowest weekly close since January 2015.
 
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