Dollar index touches a high of 94.69 on the day
It looks certain to shake off the 38.2 retracement level @ 94.30 now, with the euro continued to be weighed down on Italian woes. Italy's MIB is now down to 10-month lows, down by more than 2.5% on the day as bank stocks continue to be sold off.
The next key level for the dollar index upside is the 27 October high of 95.15. That should at least point to further gains in the dollar still in the near-term - or at least further euro weakness at the very least.
On the month, the index is now up by more than 3% and looks set for its biggest monthly gain in 18 months. More interestingly, with only June left to go, if the dollar holds on to its gains it will be the first quarter in which the greenback has strengthened under Donald Trump's presidency.
------
