The Japanese yen and U.S. dollar strengthened today against higher-yielding currencies as refuges after announcements by SunTrust Banks which predicted that U.S. banks may face more credit losses. The dollar index, a measure of the dollar's movements versus six major currencies, surged to 78.26 compared with the opening of 78.18. However, fears may increase more if the U.S. consumer confidence report released later on today came worse than expectations.

As regards to the euro-dollar pair, it is showing a slight decline on the daily charts, while it is inclining on the 4-hour charts. Germany released today its GDP final reading for the second quarter coming inline with median expectations. Meanwhile, the euro is traded at 1.4292 recording a high of 1.4308 and low of 1.4252, where the pair is close to the support level of 1.4275 and faces the coming resistance of 1.4306.

As for the sterling-dollar pair, it is also showing a slight decline tendency over the daily charts, whereas on the 4-hour charts, the pair is inclining. The U.K. released its BBA for house purchase showing improvement but it did not impact the pair. So far, the pound trading at 1.6403 setting a high of 1.6427 and a low of 1.6338; while the coming support for the pair is seen at 1.6341 and the resistance is spotted at 1.6407.

With regard to the dollar-yen pair, it is showing an incline on the daily and 4-hour charts. The yen strengthened today against majors as a safe haven on renewed fears in markets after the pessimistic announcements and as stocks fell. Now, the pair is trading around 94.20 after hitting a high of 94.59 and a low of 93.77; while the pair is currently facing the coming support level at 94.05, while the resistance is at 94.30.