The dollar is trading near a one-year low versus the euro, since anticipations that the global economy is recovering from its worst economical period since World War II, prompted investors to buy higher yielding assets, while selling lower yielding assets, which heavily weighed on the dollar in the markets. Today, the FOMC rate decision is scheduled, where expectations show that the Feds will leave interest rates steady at zero levels to 0.25 percent.

Currently, the euro versus dollar pair, after heavily climbing, is steady now; as a result of investors waiting for the interest rate decision from the Feds, while in the euro zone we saw that the services and the manufacturing expanded and contracted at a slower pace, respectively. As key sectors that fuel economic growth are reviving further support of the fact that the worst of this global recession is over. The pair is being traded at 1.4794 between the support of 1.4761 and the resistance of 1.4829, while recording a high of 1.4841 and a low of 1.4782.

The pound, like the euro, is surging against the dollar; especially as CBI, the biggest business lobby in the UK, expects growth in the third and fourth quarter of this year, encouraging investors to further buy the pound versus the dollar. In the UK; the BoE minutes were released, showing that the vote was unanimous on the APF plan of buying gilts of 175 billion pounds, while leaving interest rates steady at 0.50 percent. The GBP/USD is being traded at 1.6424, while recording a high of 1.6441 and a low of 1.6328. For the pair we see a support at 1.6404 and a resistance at 1.6455, while the William % R indicator on the one-hour chart is showing us that the pair is trading in an overbought area.

Now if we look at the dollar yen pair; we see that the yen is rising, as a result of the dollar's weakness and not because of the yen's strength, as the pair trades at 90.92, while recording a high of 91.17 and a low of 90.47. We are currently seeing a support at 90.65 and a resistance at 91.04.