The single currency depreciated against the European shared currency to reach levels not seen since November, on speculation that the measures being discussed by EU leaders would help counter the debt crisis.
The improvement witnessed in the US labor and housing market also pushed the dollar to depreciate further, as investors believe that the Federal Reserve will not raise interest rates anytime soon.
The dollar index, which tracks the performance of the dollar against six majors, opened today's trading at 78.65, while currently trading at 78.56, where it managed to set the highest at 79.01 and the lowest at 78.43.
The euro appreciated further, extending yesterday's rise where it managed to breach the resistance at 1.3432, to currently trade at 1.3475. The pair opened trading at 1.3384 while setting the highest at 1.3503 and the lowest at 1.3366.
The pair is targeting the resistance at 1.3505, keeping in mind the importance of stability abovementioned breached resistance levels.
The pound ascended as the labor sector in Britain showed a drop in jobless claims filing, but unemployment remained at 7.9 percent. The pound rose against the dollar in today's trading, breaching the resistance at 1.5967 where it's currently trading at 1.6012, while setting a high of 1.6036 and a low of 1.5943. On the four-hour chart, the pair is expected to correct the rise, and retest the above mentioned resistance, but the general trend for today is bullish, with targets set at 1.6060.
As for the dollar's trading against the Japanese yen, the single currency fell on the daily scale to 82.15, compared with the opening levels of 82.55 where it managed to set the highest at 82.68 and the lowest at 81.99.
The pair's attempt to breach 82.50 was successful, paving the path for the pair to target 82.00. A daily closing below 82.00 would allow the pair to target 81.50 then 81.00.