US Dollar Index pushes higher to 95.80

The US Dollar Index, which tracks the greenback vs. its main rivals, is extending its upside momentum on Monday, testing fresh highs near 95.80.

US Dollar bolstered by data

The greenback found extra support after US inflation figures measured by the Core PCE have gained 1.6% on a year to July, surpassing expectations.

Adding to USD-buying, Personal Income and Personal Spending have matched consensus during July, expanding 0.4% and 0.3% inter-month, respectively.

The index is thus posting its second straight session with gains, jumping to 3-week highs in the 95.70/80 band propped up by increasing speculations of a Fed’s rate hike in the next months.

US Dollar relevant levels

The index is up 0.19% at 95.75 with the next hurdle at 96.37 (200-day sma) ahead of 96.50 (high Aug.5) and finally 96.86 (high Jun.27). On the other hand, a breakdown of 95.26 (20-day sma) would aim for 95.14 (100-day sma) and then 94.05 (low Aug.18).