US Dollar nose-dives to 92.80

• DXY took a hit and drops to 92.80.
• US 10-year yields consolidating below 2.40%.

The US Dollar Index, which tracks the buck vs. its main competitors, is quickly losing ground and trades in the area of daily lows around 92.80.

US Dollar in 3-day lows

Increasing selling pressure caught USD off guard on Thursday, forcing the index to retreat to fresh 3-day lows in the 92.85/80 band.

The greenback reacted adversely after The New York Times publish a news citing the White House is planning to replace Secretary of State R.Tillerson with M.Pompeo. Plans also include replacing M.Pompeo by Senator T.Cotton at the helm of the CIA, added the newspaper.

Earlier in the session, US inflation figures tracked by the PCE failed to spark fresh buying orders in USD, while personal income/spending came in mixed, all adding to the lack of traction around the buck.

In addition, the greenback keeps ignoring the performance in yields of t he US 10-year note, which are navigating within a sideline theme just below recent tops near 2.40%.

US Dollar relevant levels

As of writing the index is losing 0.55% at 92.77 and a break below 92.50 (low Nov.27) would open the door to 91.78 (low Sep.22) and then 91.53 (low Sep.20). On the upside, the next hurdle is located at 93.44 (high Nov.29) seconded by 93.58 (55-day sma) and then 94.03 (23.6% Fibo of 2017 drop).