The yen and dollar strengthened today on concerns after the drop of global stocks, which spurred demand on safety assets. The dollar index, a gauge of the dollar's movements against a basket of major currencies, rebounded from 15-month low to 75.22 from the opening at 74.90.
The euro-dollar pair showed a decline on the daily charts and 4-hour charts, despite the upbeat trade balance data, which surprisingly turned to a surplus again. The pair hit below 1.4900, while it is currently traded at 1.4905 recording a high of 1.4998 and a low of 1.4891; whereas coming support is at 1.4890 and resistance at 1.4940.
The sterling-dollar pair declined on the daily and 4-hour charts after inclining earlier, following the better-than-expected inflation data released in the U.K. today. The pound pared some of the past two day surge. So far, the pound is trading at 1.6785 setting a high of 1.6871 and a low of 1.6769; while the coming support for the pair is seen at 1.6770 and the resistance is spotted at 1.6830.
The dollar-yen pair consolidated on the daily and 4-hour charts after declining earlier today. Presently, the pair is trading around 89.02 after hitting a high of 89.16 and a low of 88.74; while the pair is currently facing the coming support level at 88.90, while resistance is spotted at 89.45.
