The U.S Dollar and the Japanese Yen rose against majors this morning, on concerns that the economic recovery could be derailed especially after Morgan Stanley slashed its forecasts for global growthand speculation that lenders could be using insufficient policy response to tackle Europe's swelling sovereign-debt crisis, whichall in all triggered a wave of risk aversion and increasing demand for safe haven currencies.
The U.S. Dollar index, which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, rose on daily basis to trade at 74.42, compared with the opening level at 73.88, while recording a high of 74.42 and a low of 73.73.
Gold surged to currently trade at $1819.42, compared with the opening level at $1786.88 an ounce, while crude oil prices dropped to trade at $83.25, compared with the opening level at $87.50 a barrel.
The Euro slid against the Dollar, where the EUR-USD pair is trading at $1.4313, while recording a high of $1.4452 and a low of $1.4271. The pair is now trading among within the support level of $1.4205 and the resistance level of $1.4565.
The British Pound fell today against the U.S. Dollar, where the GBP-USD pair is now trading at $1.6472, while the pair recorded a high of $1.6554 and a low of $1.6421. The pair is now is now trading within the key support level of $1.6225 and key resistance level of $1.6745.
Furthermore, the U.S. Dollar dropped against the Japanese Yen, where the USD-JPY pair is now trading at ¥76.51, while recording a high of ¥76.71 and a low of 76.45. The pair is now trading between the support level of ¥75.25 and resistance level of ¥79.55.