US Dollar Index: DXY bulls attack 103.30 hurdle, focus on China, Fed minutes

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• US Dollar Index grinds higher as bulls seek more clues to extend four-day uptrend at monthly high.
• China-inflicted risk aversion, firmer US Retail Sales and fears of credit rating downgrade of major US companies propel DXY.
• Cautious mood ahead of FOMC Minutes prod US Dollar Index bulls at the highest levels in seven weeks.
• Headlines about China growth, second-tier US/China data eyed for immediate directions.

US Dollar Index (DXY) edges higher past 103.00 as bulls keep the reins despite early Asian session inaction on Wednesday. That said, the Greenback’s gauge versus the six major currencies teased bears by falling to 102.80 amid the initial hours of Tuesday’s trading but China-induced risk aversion joined upbeat US data to recall the buyers. It’s worth noting that the anxiety ahead of China’s market opening and the cautious mood before the Federal Open Market Committee’s (FOMC) latest Monetary Policy Meeting Minutes seem to prod the DXY traders of late. Furthermore, hawkish Fed talks are an additional factor supporting the USD Index of late.