Dollar index less than a half-percent from key lows

Renewed dollar weakness has carried the US dollar index (DXY) close to the important area of support just above 0.7600 in the front-month contract.

Back in September we bottomed at 76.0450 while in September 2008, 366 days earlier, we bottomed at 76.0250. Look for a move to at least the 74.00 level if 76.00 is broken on a sustained basis.The index trades now at 76.36.