The euro returned to decline along with other major currencies after Moody's Investors Service announced that the credit rating for France is witnessing great pressure, which raised fears about the spread of sovereign debt crisis among European countries, which push investors to resort back to safe haven currencies.
The euro retreated against the U.S. dollar during today's Asian session. The EU currency is trading as of this writing at 1.3723 after recording the highest of 1.3786 and the lowest of 1.3687. On the short term the currency faces a support at 1.3620 while the momentum indicators show the pair is heading to the downside.
The pound fell against the U.S. dollar during today's Asian session touching the lowest of 1.5743, after it recorded the highest of 1.5820, and as of this writing it is trading at 1.5770. On the short term the currency faces a support at 1.5700, while the momentum indicators show the pair is trading in an overbought area.
The dollar/yen pair retreated for the second day in row where it reached to its lowest at 76.71 level, the pair now is trading at 76.74 recording the highest of 76.86. Momentum indicators show the pair is heading to the downside.