European currencies rose against the dollar and other major currencies after the Group of Twenty increased pressure on European leaders to announce their plan to contain the sovereign debt crisis within eight days, which increased optimism in the markets, prompting investors to increase demand for higher-yielding currencies.
The euro advanced against the U.S. dollar during today's Asian session. The EU currency is trading as of this writing at 1.3911 after recording the highest of 1.3913 and the lowest of 1.3826. On the short term the currency faces a resistance at 1.3940 while the momentum indicators show the pair is trading in an overbought area.
The pound soared against the U.S. dollar during today's Asian session touching the highest of 1.5847, after it recorded the lowest of 1.5782, and as of this writing it is trading at 1.5838. On the short term the currency faces a resistance at 1.5360, while the momentum indicators show the pair is trading in an overbought area.
The dollar/yen pair advanced today where it reached to its highest at 77.44 level, the pair now is trading at 77.37 recording the lowest of 77.07. Momentum indicators show the pair is heading to the upside.