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US Dollar Index in highs above 83.00

Fxstreet.com (Edinburgh) - The greenback, in terms of the US Dollar Index, keeps pushing higher on Wednesday, currently trading above the key resistance at 83.00.

DXY resuming its momentum

According to Strategist Stephen Gallo at BMO, “We suspect that month-end/quarter-end flows are beginning to set in, hence the lack of any clear tone within FX this morning. Moreover, the mixed tone facing the USD may have, in part, been a result of the weakness in precious metals prices but without any bid in US yields to correspond”.

Levels to watch in DXY

At the moment the index is advancing 0.37% at 83.10 facing the next up-barrier at 83.40 while support levels are located at 82.15, 81.95 and 81.60.

Gold plummets

Spot Gold is finding some bids around $1,227.60/50 currently after a sharp decline from 1,250 in European opening hours. Overnight, the metal dropped from $1,264.53.
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BoE: UK economy threatened by weak global recovery

The Bank of England released its half-yearly Financial Stability Report on Wednesday, in which it warnes borrowers and financial institutions against the risk of a sharp rise in interest rates. The uncertain situation in the Eurozone could also weigh on the outlook for the UK economy.
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