The dollar we see today is tumbling versus major currencies, as a result of the Federal Reserve Bank Vice Chairman Donald Kohn saying that benchmark rates will remain unchanged at their lowest for an extended period, which in role weighed heavily on the dollar. Also, as Intel Corp.'s announced its forecasted revenues that surpassed market expectations increased risk appetite pushing investors towards higher yielding assets.
The euro is surging versus the dollar as investors are currently filled with optimism, which means that they have more confidence in trading within higher yielding currencies,which supports the euro in markets causing it to incline. The EUR/USD is being traded at 1.4902 between the support of 1.4829 and the resistance of 1.4914, while recording a high of 1.4912 and a low of 1.4837. The momentum indicators on the one-hour charts are showing us that the pair is trading in an overbought area.
Turning to the pound, we see that it has also climbed against the federal currency, while the
Today, the yen gained some momentum versus the dollar, as a result of