The Asian stock market ended the session climbing, in addition to higher consumer confidence levels in markets; this led the dollar to decline in markets reaching the lowest levels against the euro. On the other hand, the yen continued losing its value versus the dollar, as a result of downwards trend on the weekly charts, which will boost the pair in the upcoming period.
Euro is trading near its highest level against dollar this week at 1.3500 levels, and recorded its highest level at 1.3561 and lowest level at 1.3494. Today, the euro zone and Germany will issue data regarding PMI manufacturing, which could support the euro's movement, because the expectations are of higher readings.
Sterling rose for the fourth Consecutive day against dollar to record its highest level at 1.5239, despite the weakness of trading volume during the Asian session, the pound reached the highest level during this week against the dollar. Currently the pair is trading at 1.5200, and the resistance for the pair might stop the pound from rising further against the dollar.
The US dollar against the yen continued rising to reach the highest level since 11 week, where the yen lost momentum after breaking the downtrend at the weekly level, which gave more purchasing power on the pair boosting it higher, expectations show that the pair will reach a resistance level of 94.00 which may pause the pairs upward movement.