The dollar continued to rally in today's Asian session as fears still spread in the currencies market, since the China Banking Regulatory Commission said China will limit credit growth. Concerns about more restrictions rose today as a report showed the Chinese economy expanded 10.7% in the fourth quarter, which may be followed by more restrictions on lenders by the People's Bank of Japan.
The USDIX that tracks the dollar's performance against a basket of currencies rose in today's Asian session to record a high of 78.52 and a low of 78.21, and it is currently trading around 78.45.
The euro dollar pair slipped today recording a low of 1.4066 and a high of 1.4136, having the 16 nations' currency trading around 1.4095. The euro traded at a five months low yesterday and today it is extending declines, while the four hours and daily momentum indicators say the pair is trading in an oversold area. The ECB's monthly report and the euro zone's PMI manufacturing are on queue today that may affect the pair on release. However, today's trading range shall be between 1.4050 and 1.4255.
Regarding the pound dollar pair, it declined as well to record a low of 1.6246 and a high of 1.6310, and the pair is currently trading around 1.6270. Still more declines are anticipated, as the daily stochastic oscillators are supporting the downside, while the pair is having a support at 1.6240 along with a resistance at 1.6310. The British public finances will be released today and it may affect the pair.
Finally, the dollar gained against the Japanese yen recording a high of 91.65 and a low of 91.17, and the federal currency is currently trading around 91.55. Today's resistance could be found at 89.75, while the support could be found at 91.85. Yet, the daily and four hour stochastic oscillators are supporting the upside.