The US Dollar Index (DXY) slipped back towards 101.30 after three straight daily gains, having struggled in the 101.60-101.70 area near the year-to-date high of about 101.80 set in late June. Even with the pullback, it remains above the 200-day SMA. The index was last at 101.29 and, on the daily chart, continues to sit above the 55-day, 100-day and 200-day SMAs clustered between roughly 99.1 and 100.3; the 14-period RSI is 57 while the ADX is around 26. Resistance is seen at 101.98, with support at 100.64 and 100.39, and further levels at 99.50, 100.30, 99.72, 97.62 and the mid-95.00s.<\/p>\n
US Treasury yields extended their decline to multi-day lows as WTI fell for a third session, breaking below $80.00 and reaching new two-week troughs, easing inflation concerns. The Federal Reserve began its two-day meeting, with the FOMC expected to keep the Fed Funds Target Range unchanged at 3.25%-3.75%, while June CPI data had undershot expectations. Softer Conference Board consumer confidence added to the dollar\u2019s retreat, with API oil inventory data due ahead of the EIA release on Wednesday.<\/p>\n\n\n\n