The US Dollar Index, which gauges the greenback vs. its main rivals, continues to suffer the increasing risk aversion and is currently hovering over the 95.70 area. US Dollar in multi-month lows The index is trading in levels last seen in late October 2015 in the 95.70/60 band in response to the heightened risk-off trade that has been prevailing in the global markets for the last couple of weeks. In fact, the dollar is giving ground for the second consecutive week so far after a failed attempt to break above the psychological 100.00 handle back in late January. Poor results from the US docket and the generalized unease in equity markets and commodities have casted a mantle of doubt over the possibility of another rate hike by the Federal Reserve at its meeting in March. At her Semi-annual testimony on Wednesday, Chairwoman J.Yellen has left the door open for an ‘on-hold’ stance next month, emphasizing at the same time the ‘data dependent’ condition of the Committee and the gradual path of future rate hikes. In the data space, Initial Claims have come in at 269K for the week ended on February 5, taking the 4-Week Average to 281K vs. 285K previous. While Chief Yellen is giving her second testimony, market participants have already turned their attention to the key Retail Sales figures due tomorrow, expected to have expanded 0.1% on a monthly basis. US Dollar levels to watch The index is losing 0.19% at 95.66 facing the next support at 94.19 (low Sep.18 2015) followed by 93.86 (low Oct.14) and finally 92.52 (low Aug.24). On the other hand, a break above 96.93 (200-day sma) would aim for 97.50 (high Feb.8) and then 97.85 (100-day sma). For more information, read our latest forex news.