Dollar hovering around 94.50
The Dollar appreciated slightly against a basket of currencies at the star of the week, as investors continued to ponder over the fate of the proposed U.S. tax reforms.
With the Greenback becoming increasingly sensitive to expectations of proposed tax reforms, any positive or negative news on these developments has the ability to spark volatility. Focusing on the technical picture, the Dollar Index is under some selling pressure on the daily charts. Sustained weakness below 94.40 may encourage a further decline lower towards 94.00. In an alternative scenario, a breakout back above 94.70 may trigger an incline towards the 95.10 resistance.