The dollar fell to its lowest level in 15 months against the euro, as expectations indicate that the Fed may delay hiking rates decision, where the monetary policy makers in U.S. believe that the current rises in inflation rates is temporary because of the high commodity prices and raw materials.
The euro started today's session with an incline against the dollar, as the pair trades around 1.4494 after recording the highest at 1.4513 and the lowest at 1.4406. The pair faces a resistance at 1.4520. The daily momentum indicators show the pair in an overbought area.
The pound traded higher against the greenback, trading around 1.6244 after recording the highest at 1.6363 and the lowest at 1.6253. The pair faces a resistance at 1.6380. The daily momentum indicators show the pair is heading to the downside.
The dollar/yen pair decreased during the Asian session, as the pair trades around the 83.50 level, recording the highest at 83.81 and the lowest at 83.26. The pair faces a support at 83.20. The daily momentum indicators show the pair is heading to the downside.