Dollar Index Lower After Touching 100

US dollar index is slightly lower on the day, falling back after touching 100. The US dollar index hit a high not seen since April 2003, rallying as the greenback is seen as the most viable currency in the world. Right now, the dollar is lower against its counterparts, due in large part to profit taking. However, analysts think that the dollar’s rally isn’t over yet, and there is more strength to go.

The US dollar index touched the 100 level today, reaching 100.0600 earlier in the session. The dollar index has since fallen back and is slightly down on the day.

Greenback is lower against its major counterparts today as well. After a run of strength, it appears that the US dollar is consolidating its gains, and Forex traders are taking profits.

Even though the US dollar is lower today, and the dollar index is down a little bit, many expect the greenback to rev up again. The end to dollar strength hasn’t come, since there are still plenty of concerns and uncertainties.

At 10:30 GMT the US dollar index is down to 99.2950 from the open at 99.7220. EUR/USD us yo ti 1.0601 from the open at 1.0547. GBP/USD is up to 1.4993 from the open at 1.4931. USD/JPY is down to 121.1070 from the open at 121.4590.

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