FX Update- USD Index
The USD Index, down 0.45% to 76.786, is trading near session lows early into the afternoon session and is testing lower trend line support from its upward trend staring mid-July. Considering the steep rise in the USD index from the aforementioned period, a breakout from this trend may indicate little more than a near-term plateau as the Index is back to within coincident from the end of December through February. The USD Index is trading just above Friday’s open and will continue to seek guidance from movements in equities and energies; both of which have contributed to the USD sell-off today.