The dollar we see today is tumbling versus major currencies as a result of the Federal Reserve Bank Vice Chairman Donald Kohn saying that benchmark rates will remain unchanged at the lowest for an extended period and this right away weighed on the dollar. Also as Intel Corp.'s announced its forecasted revenues that surpassed market expectations increased risk appetite pushing investors towards higher yielding assets.
The euro is surging versus the dollar as currently investors are filled with optimism which means that have more confidence in trading in higher yielding currencies and this supports the euro in the markets causing it to incline. The EUR/USD is being traded at 1.4902 between the support of 1.4829 and the resistance of 1.4914 while recording a high of 1.4912 and a low of 1.4837. The momentum indicators on the one-hour charts are showing us that the pair is trading in an overbought area.
Turning to the pound, we see that it is also climbing against the federal currency while the
The yen today gained some momentum versus the dollar as a result of