DXY moves to fresh YTD peaks beyond 99.60 on Wednesday. Improved risk-on tone supports the dollar and US yields. US Housing Starts, Building Permits surprised to the upside. Another day, another new yearly high for the greenback, which is now navigating the 99.60/65 band when measured by the US Dollar Index (DXY). US Dollar Index now targets 100.00 The march north in DXY appears unabated for yet another session, extending the 2020 rally to levels last traded in April 2017 beyond the 99.60 level and targeting at the same time the psychological mark at 100.00 the figure. Improved sentiment in the risk complex is lifting US yields and is sponsoring the selling bias in safe havens such as the Japanese yen, all morphing into extra legs for the buck. In addition, the US docket continues to surprise to the upside: Building Permits and Housing Starts expanded more than forecasted to 1.551M and 1.567M during January, while Producer Prices also rose beyond estimates at a monthly 0.5% during the same period. Later in the session, all the attention will be on the FOMC minutes of the January meeting. What to look for around USD The index has extended the march north to new 2020 highs beyond 99.60 on Wednesday, 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 0.20% at 99.65 and a breakout of 99.66 (2020 high Feb.19) 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 Ethereum Price Analysis: ETH/USD will need to break this level if it has any chance of moving higher FX Street 2 years DXY moves to fresh YTD peaks beyond 99.60 on Wednesday. Improved risk-on tone supports the dollar and US yields. US Housing Starts, Building Permits surprised to the upside. Another day, another new yearly high for the greenback, which is now navigating the 99.60/65 band when measured by the US Dollar Index (DXY). US Dollar Index now targets 100.00 The march north in DXY appears unabated for yet another session, extending the 2020 rally to levels last traded in April 2017 beyond the 99.60 level and targeting at the same time the psychological mark at 100.00 the figure. Improved sentiment in… 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.