The dollar and the Japanese yen increased against most of the major currencies for a second day in row, as concerns in the financial markets regarding any revenge attacks by Al Qaeda after the death of their leader, bin Laden earlier this week, on the other hand the lower commodity prices and stocks has helped to increase demand for Safe haven currencies.
The euro started today's session with a decline against the dollar, as the pair trades around 1.4810 after recording the highest at 1.4838 and the lowest at 1.4774. The pair faces a support at 1.4720. The daily momentum indicators show the pair is trading at overbought.
The pound traded lower against the greenback, trading around 1.6478 after recording the highest at 1.6489 and the lowest at 1.6454. The pair faces a support at 1.6400. The daily momentum indicators show the pair is in an overbought area.
The dollar/yen pair decreased during the Asian session, as the pair trades around the 80.88 level, recording the highest at 81.06 and the lowest at 80.80. The daily momentum indicators show the pair is in an oversold area.