Major currencies rise against the dollar, with the return of optimism to the markets

By @ibtimes on

Major currencies rose against the yen and the dollar with the return of optimism to the market after U.S. housing data recovery better than expectations. On the other hand, Asian stocks rose to support the confidence of investors and to increase demand for high yielding currencies.

The euro started today's session with an incline against the dollar, as the pair trades around 1.4613 after recording the highest at 1.4620 and the lowest at 1.4514. The pair faces a resistance at 1.4680. The daily momentum indicators show the pair is heading to the upside.

The pound traded higher against the greenback, trading around 1.6469 after recording the highest at 1.6483 and the lowest at 1.6386. The pair faces a resistance at 1.6500. The daily momentum indicators show the pair is in an overbought area.

The dollar/yen pair decreased during the Asian session, as the pair trades around the 82.11 level, recording the highest at 82.48 and the lowest at 81.85. The daily momentum indicators show the pair is in an oversold area.

Join the Discussion