The U.S Dollar slipped this morning amid growing speculations the Fed will run another round of quantitative easing to stimulate the economy as Fed Chairman Ben S. Bernanke is set to press in a conference in Jackson Hole, Wyoming on Friday, which tempted investors to rush towards higher-yielding currencies after stocks and commodities rebounded and triggering a wave of risk-aversion among markets.
The U.S. Dollar index, which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, slipped to currently trade at levels of 74.05, compared with the opening level at 74.09, while recording a high of 74.16 and a low of 73.71.
Gold surged to currently trade at $1886.44 since opening at $1870.92 an ounce, while crude oil prices hiked to trade at $83.27, compared with the opening level at $82.39 a barrel.
The Euro rose against the Dollar, where the EUR-USD pair is trading at $1.4379, while recording a high of $1.4434 and a low of $1.4347. The pair is now trading among the major support at 1.4150and the major resistance at 1.4490.
The British Pound plunged against the U.S. Dollar, where the GBP-USD pair is now trading at $1.6447, while the pair recorded a high of $1.6520 and a low of $1.6436. The pair is now trading among key support at 1.6225and key resistance at 1.6745.
Furthermore, the U.S. Dollar dropped against the Japanese Yen, where the USD-JPY pair is now trading at ¥76.77, while recording a high of ¥77.20 and a low of ¥76.53. The pair is now trading between the support at ¥ 74.80and the resistance at ¥ 79.55.