Following a report that hinted for Germany and France pressuring Lisbon to acquire a bailout plan from the EU and the IMF, investors demand for haven increased, pushing the dollar to extend its rise for the sixth consecutive trading day.
The US dollar index, which tracks the performance of the currency against six-others traded higher today at 81.12, setting a high of 81.31 and a low of 80.96.
The EUR/USD pair traded higher on the daily scale with signs of further bullishness throughout today. The pair breached 1.3000 levels, where it's currently trading at 1.2930; this is compared with the opening levels of 1.2876. The pair managed to set the highest at 1.2949 and the lowest at 1.2871.
Further bearishness is expected, as the pair targets 1.2930, which if breached, would pave the path for the pair to target 1.2890 levels.
As for the pound, the cable continues to trade between the support at 1.5505 and the resistance at 1.5635. The pair is currently trading at 1.5535, while setting a high of 1.5568 and a low of 1.5473, this is compared with the opening levels of 1.5514. The pair's trading range would be bounded throughout today between the abovementioned support and resistance levels.
The dollar traded lower against the yen, reaching 82.79, compared with the opening levels of 83.18, while setting a high of 83.27 and a low of 82.71.
The pair's nearing 82.50, with the Stochastic Oscillator heading towards an overbought area on the daily scale, the pair might witness a downside trend later on today that would allow it to re-test levels at 82.00 where obtaining a daily closing below this level, would pave the path for the pair to target 81.50.