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The DXY's traded well within its recent......>

DOLLAR
DOLLAR: The DXY's traded well within its recent range today, with participants
looking ahead to tomorrow's anticipated 25bps rate hike and the subsequent press
conference with Fed Chair Powell. Relatively strong resistance is touted on an
approach into the 100-dma at 94.606 ahead of the 50-dma at 95.072, which both
stand in the way of any attempt on recent highs. Support remains layered between
the 93.713-93.840 levels, marking recent lows, but with the market remaining net
long USD futures, more focus will be on looming resistance lines with the Fed
expected to stick to their somewhat hawkish stance and shed further light on a
prospective December rate hike.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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