US Dollar trims gains, around 96.20

The US Dollar Index, which tracks the buck vs. its main competitors, has managed to leave the area of daily lows and is now approaching the 96.20 region.

US Dollar bid after data

USD gathered further traction after another revision of the US GDP figures showed the economy has expanded at an annual pace of 1.1% during the first three months of the year, bettering prior surveys.

In addition, US Consumer Confidence gauged by the Conference Board has surprised markets to the upside for the current month, up to 98.0 vs. 93.3 initially forecasted and May’s 92.4 (revised lower from 92.6).

After two sessions with gains, the index is now taking a breather and allowing at the same time some sort of rebound in the risk-associated space, although its extent should be limited given the ongoing developments in the UK and the likeliness of further uncertainty.

US Dollar relevant levels

The index is retreating 0.37% at 96.19 facing the next hurdle at 96.86 (high Jun.27) followed by 97.09 (high Mar.16) and finally 98.58 (high Mar.1). On the flip side, a breach of 93.03 (low Jun.23) would expose 92.52 (low Aug.24 2015) and finally 91.88 (2016 low May 3).