The dollar is mixed in the markets while the attention in the markets today is on the G-20 meeting as they are supposed to go over the most recent progress that has been taking place in the world economy and financial markets. The greenback also is weakening in the markets especially as yesterday the Feds said they will not hike rates anytime soon as they will remain steady between the levels of zero and 0.25 percent for an extended period.
The euro in the markets is rising against the dollar especially as
Although the euro climbed in the markets against the federal currency yet the pound is depreciating versus the already weakened dollar as a result of Governor of the Bank of England Mervyn King stating that financial institutions balance sheets still need more fixing, and this meant that banks have not stabilized which means an economic recovery in the UK will take longer than presumed therefore scaring investors away from the pound. The GBP/USD is being traded at 1.6193 between the support of 1.6182 and the resistance of 1.6246 while recording a high of 1.6386 and a low of 1.6174.
Now turning to the yen we see that it trading near a one-week high as a result of anticipations that Japanese industries came home after the Holidays with capital that they are going to use in the nation. The dollar yen pair is being traded at 90.49 while recording a high of 91.61 and a low of 90.33. For the pair we see a support at 90.30 and a resistance at 90.65.