The U.S. today is releasing its FOMC minutes in which we see that economic activity lately is stabilizing which therefore increases the demand on the dollar therefore boosts the dollar versus major currencies. The Dollar Index, which usually measures strength of the dollar versus six major currencies, is currently traded at 80.02 while recording a high of 80.04 and a low of 79.55.
After the euro was climbing heavily past the dollar, we saw that it fell from a one-week high after the finance minister of Greece George Papaconstantinou said that there is no actual need for a bailout, this right away caused investors to sell the euro in the markets as currently the focus remains on the budget deficit of Greece. The EUR/USD pair is currently traded at 1.3703 between the support of 1.3670 and the resistance of 1.3800 while recording a high of 1.3787 and a low of 1.3692.
The Bank of England today released it minutes stating that the vote on interest rates and the APF program were unanimous therefore the pound was not effected. The GBP/USD pair is consolidating currently at 1.5779 between the support of 1.5765 and the resistance of 1.5845 as the pair so far recorded a high of 1.5815 and a low of 1.5733. The volume indicator on the one-hour charts are showing us that there is strong volume in the markets while the momentum indicators provide us with a sideways wave.
Once again markets are filled with anticipations that there are increasing signs of a global recovery take place, which causes investors to sell lower yielding assets which therefore add pressure on the yen causing it to tumble versus the federal currency. The USD/JPY pair is traded at 91.95 between the support of 90.40 and the resistance of 91.60 while recording a high of 91.10 and a low of 90.14.