DXY loses further momentum and hovers around the 93.30 region. US 10-year yields rose to multi-week highs just below 0.70%. US headline, Core CPI rose more than expected in July. The greenback is now losing further ground and drags the US Dollar Index (DXY) to fresh daily lows in the vicinity of 93.30 on Wednesday. US Dollar Index offered post-CPI The index is now trading well into the negative ground following three consecutive daily advances and another failed attempt to re-test the key resistance area in the 94.00 neighbourhood. In the meantime, bets for a deal regarding a new stimulus package seem to be losing further traction, particularly after Treasury Secretary S.Mnuchin casted some doubts over a compromise to reach such an agreement. The decline in the index comes on the back of a moderate pick up in investors’ appetite for riskier assets and despite yields of the key US 10-year reference managed to clinch fresh multi-week tops just below 0.70%. In the US data space, inflation measured by the headline CPI rose 0.6% MoM and 1.0% YoY, while prices stripping food and energy costs also rose above expectations 0.6% inter-month and 1.6% from a year earlier. What to look for around USD The dollar managed to leave behind the area of +2-year lows near 92.50 in the second half of last week and reclaimed the boundaries of the 94.00 neighbourhood earlier on Wednesday, where is located the so far monthly peaks (August 3). Looking at the broader picture and despite the onging rebound, investors remain bearish on the dollar against the usual backdrop of a dovish Fed, the unabated advance of the pandemic and somewhat diminishing momentum in the economic recovery, while renewed US-China effervescence appears to have lent some oxygen to the currency as of late. On another front, the speculative community remained well into the negative territory for yet another week, supporting the view that a more serious bearish trend could be shaping up around the dollar. US Dollar Index relevant levels At the moment, the index is losing 0.29% at 93.38 and faces the next support at 92.52 (2020 low Aug.6) seconded by 91.80 (monthly low May 18) and finally 89.23 (monthly low April 2018). On the other hand, a break above 93.99 (weekly high Aug.3) would aim for 94.20 (38.2% Fibo of the 2017-2018 drop) and then 96.03 (50% Fibo of the 2017-2018 drop). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF drops to session low, bears eyeing a break below 0.9100 mark FX Street 2 years DXY loses further momentum and hovers around the 93.30 region. US 10-year yields rose to multi-week highs just below 0.70%. US headline, Core CPI rose more than expected in July. The greenback is now losing further ground and drags the US Dollar Index (DXY) to fresh daily lows in the vicinity of 93.30 on Wednesday. US Dollar Index offered post-CPI The index is now trading well into the negative ground following three consecutive daily advances and another failed attempt to re-test the key resistance area in the 94.00 neighbourhood. In the meantime, bets for a deal regarding a new stimulus… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.