Dollar slips by the end of the week
The dollar fell against the euro and the yen by the end of the week after growth data released yesterday from the U.S. economy to indicate a stall in growth in the U.S. economy, which increased fears about the recovery in the global economy and pushed the dollar to decline against major currencies.
The euro started today's session with an increase against the dollar, as the pair trades around 1.4258 after recording the highest at 1.4276 and the lowest at 1.4128. The pair faces a resistance at 1.4320. The daily momentum indicators show the pair is heading to the upside.
The pound traded higher against the greenback, trading around 1.6436 after recording the highest at 1.6445 and the lowest at 1.6381. The pair faces a resistance at 1.6460. The daily momentum indicators show the pair is in an overbought area.
The dollar/yen pair decreased during the Asian session, as the pair trades around the 81.05 level, recording the highest at 81.26 and the lowest at 80.87. The daily momentum indicators show the pair is heading to the downside.