The European currency has surged to the highest level in a month versus the US counterpart, as the dollar continued to decline against major currencies due to the U.S. stock markets fell for a fourth day amid concern economic growth is slowing and the Federal Reserve will boost capital requirements for the nation's largest banks. On the other hand, the Japanese Yen trades in narrow range vs. the greenback.
The euro started today's session with an incline against the dollar, as the pair trades around 1.4654 after recording the highest at 1.4663 and the lowest at 1.4562. The pair faces a resistance at 1.4700. The daily momentum indicators show the pair is in an overbought area.
The British Pound inclined against the greenback during today's session, trading around 1.6418 after recording a high of 1.6429 and a low of 1.6322. The pair faces a resistance at 1.6460. The daily momentum indicators show the pair is heading to the upside.
Turning to the dollar/yen pair inclined during the Asian session, as the pair trades around the 80.19 level, recording the highest at 80.32 and the lowest at 80.09. The daily momentum indicators show the pair is in an oversold.