The US Dollar extends its rally to a three-day winning streak. Traders are diving into the Greenback on Fed’s Waller hawkish tilt. The US Dollar Index jumps to a new high for March. The US Dollar retreats from its earlierfresh highs for March after the Greenback rallied on comments from Fed Board Member Christopher Waller who pulled the plug on a June interest-rate cut. The Greenback is rolling through the markets and is up against every major G20 peer.
Should the Personal Consumption Expenditures Price Index bear a red hot inflation label again, expect for the DXY to quickly reach 105.00 and higher. That first pivotal level for the DXY at 104.60 has been broken, where last week’s rally peaked. Further up, 104.96 remains the level to beat in order to tackle 105.00. Once above there, 105.12 is the last resistance point for now before the Relative Strength Index will trade in overbought levels.
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