Dollar Rises Amid Economic Reports

The US dollar rose against major currencies as traders reacted to recent economic reports. The DXY gained some ground, climbing above key levels despite weak housing market data.

Housing Starts declined by -12.4% month-over-month in July, while Building Permits increased by +5%. These figures were lower than analysts had forecasted.

The US dollar index (DXY) is now headed towards the 99.85-100.00 resistance level if it settles above its 50-day moving average at 99.75.