US Dollar clinches highs around 95.60

The greenback, in terms of the US Dollar Index, remains on a strong footing today, now printing fresh highs in the 95.60 area.

US Dollar in 8-week peaks

The index has advanced to the 95.60 area, levels last traded in late March, sustained by the unabated buying interest around the dollar and today’s auspicious results from the US housing sector, where New Home Sales have expanded 16.6% on a monthly basis in April, to 619K units, surpassing initial estimates.

USD has been already supported by recent hawkish comments by several FOMC governors, leaving the door open for a rate hike by the Federal Reserve at its meeting next month.

US Dollar relevant levels

The index is up 0.33% at 95.55 facing the initial hurdle at 96.23 (100-day sma) ahead of 96.42 (high Mar.28) and then 96.67 (200-day sma). On the flip side, a drop below 94.81 (55-day sma) would expose 94.20 (20-day sma) and finally 93.65 (low May 11).