US Dollar looks for direction near 100.40

The greenback – tracked by the US Dollar Index – is trading almost unchanged late in the Asian session, navigating within a narrow range around the 100.40 region.

US Dollar focus on data

After Monday’s negative start, the index is attempting to recover the smile while a mild risk-off sentiment still prevails in the broader environment.

The poor performance of US yields impacted on DXY on Monday, as the 10-year reference extended the recent drop and is currently hovering over the 2.30% from tops above 2.40% seen yesterday.

In the meantime, the buck stays well underpinned by positive results from the US docket and recent Fedspeak. In fact, voting member and President of the Philly Fed P.Harker supported on Monday the view of two more rate hikes during this year as well as a gradual tightening, adding to last week’s comments by many of his FOMC peers.

Data wise in the US today, February’s Factory Orders are due along with the speech by FOMC’s D.Tarullo (permanent voter, centrist).

US Dollar relevant levels

The index is up 0.02% at 100.38 and a break above 100.50 (high Mar.30) would open the door to 100.58 (100-day sma) and then 100.67 (20-day sma). On the flip side, the next support aligns at  99.50 (low Mar.29) followed by 98.92 (low Mar.28) and finally 98.67 (low Mar.27).