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The dollar index now sits above 90.00 in.....>

DOLLAR
DOLLAR: The dollar index now sits above 90.00 in the wake of the latest FOMC
meeting minutes, following the initial leg lower in the immediate aftermath of
the release.
- It would seem that many Fedwatchers are of the view that the FOMC is edging
towards a consensus view of 4 2018 hikes, although it is not quite at the stage
where it is ready to disseminate this as of yet, although the Fed is seemingly
becoming increasingly optimistic over the US economy in the short term.
- A raft of 2018 voters are packed in to the next 2 days, with Governor Quarles
due up in Asian hours as well as non-voter & dove Kashkari. Participants keenly
await Friday's release of the Monetary Policy Report from Chair Powell. 
- Looking to technical the DXY's close above the 55-DMA (89.587) eased bearish
pressure with above 91.751 needed to shift initial focus to 92.640 and overall
focus to 94.219-95.149. Initial support is noted at 89.442 with bears needing a
close below to signal a false break of the 55-DMA and return focus to 87.202-627
where the weekly bear channel base and Dec 2014 monthly low are situated. Weekly
studies are currently correcting from O/S.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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