US dollar index drops modestly, on the day, the Dow reached 20,000

On a day that will be remembered for decades, the greenback dropped modestly in the market. The US Dollar Index, a measure of the USD against a basket of currencies, bottomed at 99.76, the lowest since December 8 and then bounced to the upside trimming losses. 

The recovery of dollar pushed the Index back above 100.00 but it lost strength below 100.30. It was about to end the day, hovering around 100.00. Since late Monday, the DXY is moving in a range with support around 99.80 and resistance at 100.35. 

A historic day 

In Wall Street, equity prices were posting solid gains. The Dow Jones climbed above the 20,000 milestone for the first time; it was up 0.72%, headed toward a historic close. The S&P 500 was gaining 0.72% and the Nasdaq 0.87%. 

Today the US dollar failed to benefit from raising US bond yields. Treasuries decline to the lowest in weeks. The 10-year yield rose from 2.465% to 2.531%, the highest since December 28.

Gold fell for the second day in a row and dropped below $1200/oz. Crude oil also lost ground, the WTI barrel was slightly below $53.00, down 0.65%. 

No relevant economic data form the US was release today. The next key report will be on Friday, with the first reading of 4Q GDP.