U.S. Dollar Index continues its attempts to settle above the resistance at 98.00 – 98.20 as traders react to housing market reports. Housing Starts increased by +5.2% month-over-month in July, compared to analyst forecast of -2.2%. Building Permits decreased by -2.8%, missing analyst estimates.
If U.S. Dollar Index settles above 98.20, it will head towards the next resistance level at 99.20 – 99.40.
USD/JPY moved lower amid falling Treasury yields.
USD/JPY remains stuck near the resistance at 147.50 – 148.00 as traders focus on falling Treasury yields.
The technical picture remains unchanged as USD/JPY needs to settle above the 148.00 level to gain sustainable momentum in the near term.
