Dollar dropped against major currencies before U.S. housing data

By @ibtimes on

The dollar fell against the euro and other major currencies ahead of U.S. housing data, which is expected to come less than expected, on the other hand the U.S. Federal Reserve announced yesterday through the FOMC minutes that the bank will wait to withdrawal stimulus programs from the market before raising interest rates.

The euro started today's session with an increase against the dollar, as the pair trades around 1.4235 after recording the highest at 1.4304 and the lowest at 1.4206. The pair faces a resistance at 1.4340. The daily momentum indicators show the pair is heading to the upside.

The pound traded higher against the greenback, trading around 1.6167 after recording the highest at 1.6188 and the lowest at 1.6129. The pair faces a resistance at 1.6200. The daily momentum indicators show the pair is in an oversold area.

The dollar/yen pair increased during the Asian session, as the pair trades around the 81.85 level, recording the highest at 81.93 and the lowest at 81.49. The daily momentum indicators show the pair is heading to the upside.

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