US Dollar testing highs near 93.30

After dropping to as low as the 92.90 region on Monday, the US Dollar Index (DXY) has now regained some attraction and is now hovering over the 93.20 region, or daily highs.

US Dollar supported below 93.00

The index is picking up pace today following a softer tone in the risk-associated space, while the positive performance of yields of the US 10-year reference is also adding support to the buck.

USD is regaining some ground lost at the beginning of the week, reverting at the same time two consecutive daily pullbacks and managing to keep the trade within the familiar range.

Absent releases in the US docket today, USD is expected to stay in a consolidative-mode in tandem with the global markets ahead of the Jackson Hole Symposium on Thursday and Friday.

Investors will closely follow the speech by Fed’s Chief J.Yellen on Friday, looking for any hints regarding further tightening by the Federal Reserve at some point in Q4 along with plans to start reducing the balance sheet.

US Dollar relevant levels

As of writing the index is gaining 0.24% at 93.22 and a breakout of 93.43 (10-day sma) would open the door to 94.14 (high Aug.16) and finally 95.13 (55-day sma). On the flip side, the next support emerges at 93.00 (low Aug.21) seconded by 92.93 (low Aug.11) and then 92.55 (2017 low Aug.2).