The dollar is seen vigorous against versus major currencies, as investors are currently seeking lower yielding assets versus higher yielding assets, and this meant that stock markets shed points. The Dollar Index, which usually gauges strength of the dollar versus six major currencies, is currently traded at 75.70 while recording a high of 75.87 and a low of 75.19.
The euro lost massive ground in the markets after President of the European Central Bank Jean-Claude Trichet said that he is planning to exit the stimulus program from the euro zone while this did not mean that interest rates were going to be hiked. As a result of these decisions, weighed on the euro as investors were worried about the economic conditions after the stimulus to be pulled out, also, not lifting interest rates discouraged traders to buy the euro. The EUR/USD is being traded at 1.4851 while recording a high of 1.4934 and a low of 1.4800, for the pair we see a support at 1.4794 and a resistance at 1.4882.
The pound like the euro is weakening versus the dollar as it is also considered a higher yielding currency, while currently investors are staying away from higher yielding currencies. The United Kingdom today lacked major economic data while the GBP/USD is being traded at 1.6499 while recording a high of 1.6674 and a low of 1.6459. For the pair we see there is a support at 1.6448 and a resistance at 1.6573.
The yen lost strength versus the federal currency despite anticipations that the Federal Reserve Bank will leave interest near zero as a way to keep boosting growth levels in the U.S. economy. The USD/JPY is being traded at 89.03 between the support of 89.70 and a resistance of 89.12 at 89.05 while recording a high of 89.12 and a low of 88.67.
