US Dollar weaker, threatens to breach 95.00

The greenback, tracked by the US Dollar Index, remains on the softer side during the second half of the week, now trading in session lows in the 95.20/10 band.

US Dollar weaker post-Fed

The index is retreating for the second consecutive session so far today, fully fading the earlier advance to peaks above the 96.00 limestone and re-focusing on the lower bound of the range near the key support at 95.00 the figure.

A mixed tone from Janet Yellen at her press conference yesterday failed to lure in USD buyers, leaving the door open for further weakness despite the signal for a rate hike by year-end was quite clear.

Back to the US docket, Existing Home Sales, the Chicago Fed National Activity Index and Initial Claims are all due later in the NA session.

US Dollar relevant levels

The index is retreating 0.44% at 95.24 and a breakdown of 94.78 (support line off 2016 low) would aim for 94.44 (low Sep.8) and finally 94.05 (low Aug.18). On the other hand, the next hurdle lines up at 96.31 (spike post-BoJ Sep.21) followed by 96.50 (high Aug.5) and then 96.78 (23.6% Fibo of July-August drop).