US Dollar under pressure near 90.00

• The index is putting the 90.00 handle to the test on Tuesday.
• US 10-year yields coming up from lows near 2.72%.
• No data releases in the US today. Kashkari, Brainard due to speak.

The US Dollar Index (DXY), which tracks the buck vs. it s main competitors, is extending the choppy start of the week and putting the 90.00 handle under pressure.

US Dollar attention to Fedspeak

The index keeps the rangebound theme so far this week, following the rest of the global assets into a soft start of the second quarter.

Persistent concerns over the likeliness of a US-China trade war have lent some support to the greenback and hurt equities during early trade. The bullish mood was short-lived, however, and is now leaving the 90.00 barrier to the mercy of fresh sellers.

On another direction, risk-on sentiment is driving yields of the key US 10-year benchmark to fresh tops around 2.77%, rebounding from lows near 2.72%.

Event-wise today in the US docket, Minneapolis Fed N.Kashkari (non voter, dovish) speaks at a Regional Economic Forum, while FOMC’s L.Brainard (permanent voter, dovish) will speak on ‘Financial Stability’.

US Dollar relevant levels

As of writing the index is down 0.13% at 89.92 facing immediate contention at 88.94 (low Mar.27) seconded by 88.44 (low Jan.26) and then 88.25 (2018 low Feb.16). On the other hand, a break above 90.18 (high Mar.29) would aim for 90.44 (high Mar.20) and finally 90.93 (high Mar.1).