Dollar Index loses altitude, eyes 102.00 levels

The American dollar is taking a beating in Asia as markets digest the dovish Fed minutes released overnight. 

The Dollar index (DXY) fell to a session low of 102.09 and was last seen trading around 102.18 levels. 

Fed awaits more information on Trumponomics

The offered tone around the US dollar strengthened after the minutes revealed the hawkish interest rate forecasts published in December assumed tax cuts, fiscal spending under Trump Presidency. 

The risky gamble suggests the Fed would delay the next rate hike if Trump falls short of expectations. 

Dollar Index Technical Levels

A break below 101.91 (Dec 30 low) would mark the breach of a double top neckline. That would open the door to 101.54 (Dec 5 high) and to 100.93 (50-DMA). On the other hand, a break above 102.45 (session high) could yield a re-test of 103.00 (zero figure) and 103.82 (Jan 3 high).