The euro rose against the dollar and the Japanese yen influenced by expectations that China is on its way to purchase the European government bonds, which increases confidence on the European crisis and increases the likelihood of recovery in the global economy.
The euro started today's session with an increase against the dollar, as the pair trades around 1.4167 after recording the highest at 1.4188 and the lowest at 1.4067. The pair faces a resistance at 1.4200. The daily momentum indicators show the pair is in an oversold area.
The pound traded higher against the greenback, trading around 1.6289 after recording the highest at 1.6333 and the lowest at 1.6278. The pair faces a resistance at 1.6340. The daily momentum indicators show the pair is heading to the upside.
The dollar/yen pair decreased during the Asian session, as the pair trades around the 81.95 level, recording the highest at 82.02 and the lowest at 81.66. The daily momentum indicators show the pair is in an overbought.