USD INDEX TAKES A BREATHER AND DROPS BELOW 105.00
The rally in the dollar enters and impasse around 105.00.
US yields look poised to extend the decline.
Wholesale Inventories, Consumer Credit Change next on tap.
Following recent multi-week tops past the 105.00 barrier, the greenback now gives away part of those gains when tracked by the USD Index (DXY) at the end of the week.
USD Index meets resistance around 105.15
The index comes under pressure and slips back below the 105.00 mark on Friday following three consecutive daily advances, although the strong upside in place since mid-July appears unchanged for the time being.
The so far knee-jerk in the dollar comes along with further weakness in US yields across different timeframes and amidst now dwindling bets over a potential rate hike by the Federal Reserve at the November 1 meeting. On this, CME Group now sees the probability of this scenario at around 40%.
In the US docket, Wholesale Inventories and Consumer Credit Change will be in the limelight later in the NA session
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