Dollar falls to lowest level in 16 months against the euro

By @ibtimes on

The dollar fell against the euro to its lowest level in 16 months with the expectation that the Federal Reserve Bank on the way to take further action during a meeting today to support the U.S. economy after the end of bond-buying program in the month of June.

The euro started today's session with a decline against the dollar, as the pair trades around 1.4985 after recording the highest at 1.4710 and the lowest at 1.4663. The pair faces a support at 1.4640. The daily momentum indicators show the pair is trading at overbought.

The pound traded lower against the greenback, trading around 1.6500 after recording the highest at 1.6522 and the lowest at 1.6473. The pair faces a support at 1.6450. The daily momentum indicators show the pair is in an overbought area.

The dollar/yen pair increased during the Asian session, as the pair trades around the 81.58 level, recording the highest at 81.76 and the lowest at 81.33. The daily momentum indicators show the pair is in an oversold area.

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