DXY trades in the vicinity of recent YTD highs just below 99.50. Coronavirus fears spurred the demand for the dollar on Tuesday. FOMC minutes, Producer Prices, housing data, Fedspeak all due later. The greenback, when measured by the US Dollar Index (DXY), is struggling for direction near 99.50 following the Asian trading session on Wednesday. US Dollar Index looks to Fed, data The monthly rally in the index appears far from abated on Wednesday after it clinched fresh YTD highs near 99.50 on Tuesday and is now at shouting distance from 2019 peaks at 99.67 recorded on October 1st. Renewed jitters around the Chinese coronavirus (COVID-19) encouraged investors to return to the safe haven universe in detriment of recent bets favouring riskier assets, all morphing into extra wings for the buck and dragging US yields lower. Later in the NA session, the focus of attention will be on the publication of the FOMC minutes. Seconded in relevance will come Housing Starts and Building Permits along with Producer Prices for the month of January. Additionally, Atlanta Fed R.Bostic (2021 voter, centrist) will speak on the Economic Outlook in Atlanta, Cleveland Fed L.Mester (voter, hawkish) will speak at a Forum of Executive Women, Minneapolis Fed N.Kashkari (voter, dovish) speaks in Minnesota, Dallas Fed R.Kaplan (voter, hawkish) speaks in Dallas and Richmond Fed T.Barkin (2021 voter, centrist) will discuss the Monetary Policy Framework. What to look for around USD The index has extended the march north to new 2020 highs near 99.50 on Tuesday, keeping the bid bias unaltered for the time being. Investors are expected to keep looking to the performance of US fundamentals and the broader risk appetite trends for direction as well as any fresh developments from the COVID-19. In the meantime, the outlook on the dollar remains constructive and bolstered by the current “appropriate” monetary stance from the Fed vs. the broad-based dovish view from its G10 peers, the “good shape” of the domestic economy, the buck’s safe haven appeal and its status of “global reserve currency”. US Dollar Index relevant levels At the moment, the index is gaining 0.01% at 99.45 and a breakout of 99.47 (2020 high Feb.18) would aim for 99.67 (2019 high Oct.1) and finally 100.00 (psychological barrier). On the flip side, immediate contention emerges at 98.75 (23.6% Fibo retracement of the 2020 rally) seconded by 98.54 (monthly high Nov.29 2019) and then 98.40 (21-day SMA). 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 Chinese crypto exchange FCoin shuts down without clearing its debt FX Street 2 years DXY trades in the vicinity of recent YTD highs just below 99.50. Coronavirus fears spurred the demand for the dollar on Tuesday. FOMC minutes, Producer Prices, housing data, Fedspeak all due later. The greenback, when measured by the US Dollar Index (DXY), is struggling for direction near 99.50 following the Asian trading session on Wednesday. US Dollar Index looks to Fed, data The monthly rally in the index appears far from abated on Wednesday after it clinched fresh YTD highs near 99.50 on Tuesday and is now at shouting distance from 2019 peaks at 99.67 recorded on October 1st. Renewed… 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.