US Dollar climbs to 2018 tops beyond 93.00, Trump eyed

• The index moves beyond the 93.00 handle, fresh 2018 lows.
• US 10-year yields in a 2.95%-2.96% range so far.
• JOLTs Job Openings, Trump’s decision on Iran deal next on tap.

The US Dollar Index (DXY), which gauges the buck vs. a basket of its main competitors, is prolonging the rally on Tuesday and clinches fresh YTD tops beyond 93.00 the figure, levels last traded in late December.

US Dollar now looks to Trump, Iran

The index stays on a firm fashion during the first half of the week, advancing for the fourth week in a row and trading in the area of fresh 2018 peaks beyond the 93.00 milestone.

However, the rally in the buck will be surely put to the test later in the day in light of President Trump’s long-waited decision over the Iranian deal, all amidst rising effervescence and speculations over the issue.

In the US docket, the NFIB Small Business Optimism index came in a tad below expectations at 104.8 in April, albeit higher than March’s 104.7. Later, the JOLTs Job Openings figures are due, while President Trump is expected to speak in the European evening/night.

US Dollar relevant levels

As of writing the index is gaining 0.1337 at 93.12 and a breakout of 93.14 (2018 high May 7) would open the door to 93.68 (78.6% Fibo of 95.15-88.25) and then 94.22 (high Dec.12 2017). On the other hand, initial contention emerges at 92.16 (10-day sma) seconded by 91.95 (10-day sma) and finally 91.70 (50% Fibo of 95.15-88.25).