Trading in the currencies markets today was mixed, where even though the U.S. dollar managed to rise against majors as shown on the U.S. dollar index, however, the dollar's performance varied against different majors, where data released today from the United States provided mixed signals, as the income report showed that personal income and spending continued to rise over a moderate pace, while core inflation rose above expectations though it remains well under control.
Moreover, the lack of any specific measures from the G-20 to control rising budget deficits weighed down on the Euro, as investors are still uncertain over the outlook of the European debt crisis and its aftermath of global growth.
The U.S. dollar was mixed in trading against major currencies throughout today's session, where on one hand, the U.S. dollar rose against the Euro and the Yen, and on the other hand, the U.S. dollar lost ground against the British Pound. The U.S. dollar index, which is measure for the dollar's performance against a basket of currencies, inclined to trade at 85.69, compared with the opening levels at 85.30, after recording a high of 85.71 and a low of 85.21.
The Euro-Dollar pair declined in today's trading session as shown on the daily charts, where the pair continues to trade near its lowest levels in almost a year, as the pair is now trading at $1.2287 between the support level at $1.2280 and the resistance at $1.2400, noting that the pair is trading near the support at $1.2280 and if this level is breached, the pair will target the next support at $1.2240. The pair recorded the highest today at $1.2397 and the lowest level at $1.2274.
The British Pound-Dollar pair however, inclined on the daily charts to trade at $1.5084 after the pair breached the resistance at $1.5080 to target the new resistance at $1.5120 given it can maintain trading above the $1.5080 level, while the pair recorded the highest level today at $1.5118 and the lowest at $1.5015.
Finally, the Dollar-Yen pair inclined on daily charts in thin trading, where the pair is trading at 89.35, between the support level at 89.15 and the resistance at 90.20, noting that the pair managed to set the highest level today at 89.46 and the lowest at 89.04.