US Dollar accelerates the drop to 96.30

The greenback, tracked by the US Dollar Index, has receded to the area of fresh lows around 96.30 on Thursday.

US Dollar tumbles post-FOMC

The index has quickly retreated to multi-day lows following a more dovish than expected statement at the FOMC meeting on Wednesday. The Committee showed no rush in hiking interest rates, albeit it did addressed the solid health of the labour market adding that ‘near-term risks to the economic outlook have diminished’.

Ahead in the NA session, Initial Claims are due along with US trade balance figures, all ahead of tomorrow’s more significant advanced GDP figures for the second quarter.

US Dollar relevant levels

The index is losing 0.69% at 96.39 and a break below 95.51 (55-day sma) would expose 95.38 (low Jul.5) and finally 95.12 (100-day sma). On the other hand, the next resistance lines up at 97.62 (high Jul.25) followed by 98.58 (high Mar.1) and then 99.95 (high Jan.21).