The dollar is once again mixed in the markets depreciating heavily against the euro after the central bank of Australia surprised markets as they hiked interest rates due to an economic recovery taking place. Investors seeing this were encouraged to turn to higher yielding assets yet the pound is pressured from the conditions of the UK economy which is why the dollar is rising past it.

Although the euro zone lacked major economic data yet the euro is surging versus the dollar as it considered a higher yielding asset while its appeal is rising in the markets. The EUR/USD is being traded at 1.4710 while recording a high of 1.4748 and a low of 1.4645. For the pair we see there is a support at 1.4697 and a resistance at 1.4737 while the momentum indicators on the one-hour chart are showing us that the trend is to the downside.

The pound today extended its decline versus the federal currency as the UK released its manufacturing and industrial production showing that they declined and this meant that the economy was struggling to shake off the recession. The deadbeat data weighed on the royal currency as currently we see that the GBP/USD is being traded at 1.5916 between the support of 1.5898 and the resistance of 1.5965 while recording a high of 1.6047 and a low of 1.5875. The volumes indicator on the one-hour chart is showing us that there is low volume in the markets.

The dollar yen pair is trading in narrow ranges at 89.05 between the support of 88.70 and the resistance of 89.12, the USD/JPY recorded a high of 89.64 and a low of 88.84. The yen gained strength today versus the USD as a result of the Japanese Finance Minister Hirohisa Fujii said that economies should not follow policies that might depreciate their currency.