US Dollar depressed near 93.30 despite upbeat U-Mich

The US Dollar Index – which tracks the buck vs. its main rivals – remains entrenched into the negative territory so far on Friday, trading a tad above session lows in the 93.30/25 band.

US Dollar unchanged on data

The index stayed apathetic despite US consumer sentiment is expected to come in above expectations for the current month. In fact, the advanced print of the Reuters/Michigan index came in at 97.6 vs. 94 initially forecasted and up from July’s 93.4.

However, heightened uncertainty around the White House keeps weighing down the prospects of any reliable recovery in the greenback, keeping DXY on the back foot and closer to the key support at 93.00 the figure.

In addition, yields of the key 10-year benchmark have accelerated the down move to levels last seen in mid-June near the 2.16% handle, coming straight down from weekly tops just beyond 2.28% seen on Tuesday.

US Dollar relevant levels

As of writing the pair is retreating 0.27% at 93.38 facing the immediate support at 93.25 (low Aug.18) seconded by 93.21 (low Aug.17) and finally 92.83 (low Aug.11). On the flip side, a breakout of 94.06 (high Aug.16) would open the door to 95.10 (23.6% Fibo of the 2017 drop) and then 96.25 (high Jul.5).