The index of the u.s. dollar, which follows the dollar against its major competitors, is maintained at levels above 93.00 on Friday, registering a marginal loss for the day.
Us dollar offered by Jackson Hole
The index, with gains up to now operates around 93.60/65. The USD should remain under scrutiny later in the session, as the Chairwoman J. Yellen should talk in the Symposium of Jackson Hole.
The market expectations are divided between those who saw Yellen reiterating the tone recent and others looking for any surprise with regard to the time of the reduction of the Fed balance sheet and an additional adjustment.
In addition, the Dallas Fed R. Kaplan (voters, hard-line) considered that inflationary pressures are gradually moving, while he noted that another rise remains viable in function of the evolution of consumer prices.
Previously, L. Mester, Fed of Cleveland (voter 2018, aggressive) argued that the Federal Reserve must act in a preventative manner, supporting at the same time the cuts are incremental to the current accommodation.
Levels relevant to the us dollar
At this time, the index is losing 0.11% to 93.13 showing the immediate support at 93.00 (minimum of 21 of August) followed by 92.93 (minimum of 11 of August) and then 92.55 (minimum of 2 of August of 2017). On the other hand, a break of 93.42 (moving average of 10 days) would open the door to 93.63 (maximum of 23 August) and, finally, 94.14 (maximum of 16 August).