The yen and dollar advanced against higher-yielding currencies after Goldman Sachs had been accused of fraud for selling securities that triggered financial crisis in 2008. The downbeat news caused a sell-off to risky assets driving stocks into red territories. The dollar inclined for the third day against a basket of major currencies as seen by the dollar index which rose to 81.26 from the day's opening at 80.96 after the market has opened on a common gap.

With regard to the euro-dollar pair, it is showing decline on the daily and 4-hour charts in the absence of important fundamentals from the euro zone. The 16-nation currency faces pressure ahead of the EU and IMF emergency meeting in Athens next week that was delayed due to ash clouds stemming from Iceland's volcano which crippled air travel across Europe, where the 45 billion euros aid will be discussed. Currently, the pair is trading at 1.3430 after breaching strong support at 1.3483 while recording a high of 1.3497 and a low of 1.3417, whereas support is seen at 1.3390 while resistance is at 1.3495.

As for the sterling-dollar pair, it also plunged on the daily and 4-hour charts after opening on a huge gap. The U.K. remains under political pressure on expectations there will be no clear winner on May 6 elections which is casting doubts that the new government will not be able to tackle the large budget deficit. Meanwhile, the pair is trading at 1.5208 reaching a high of 1.5314 and a low of 1.5189 while it is expected to move between support at 1.5165 and resistance at 1.5250.

Relative to the dollar-yen pair, it is showing slight decline on the daily charts after getting support from the 4-hour and 1-hour charts. The pair rebounded after touching strong support at 91.65 to pare some of last week losses, whilst it is currently trading at 91.93 after reaching a high of 92.21 and a low of 91.57, whereas support is seen at 91.35 while resistance is at 92.35.