US Dollar clinches highs near 97.80

The greenback, tracked by the US Dollar Index, has reverted part of the recent retracement and is now hovering over the 97.80 region.

US Dollar focus on US elections

The index has managed to recover the smile after the FBI stressed on Sunday it will not charge Democratic candidate H.Clinton over the handling of confidential information in emails.

USD has retaken the 97.80 area during the European morning today after dropping below the 97.00 handle on Friday, surging across the board vs. its main rivals and taking a toll on the risk-associated universe.

In the meantime, the US elections continue to drive the sentiment in the global markets, with pre-election polls signalling that vote intentions remain tied for the time being.

Reinforcing the buck, speculative net longs have climbed to the highest level since mid-August 2015 during the week ended on November 1, as shown be the latest CFTC report.

US Dollar relevant levels

The index is gaining 0.63% at 97.68 and a surpass of 99.09 (high Oct.25) would open the door to 99.95 (high Jan.21) and then 100.60 (high Dec.3). On the flip side, the immediate support aligns at 96.94 (low Nov.4) followed by 96.47 (55-day sma) and finally 95.67 (6-month support line).