The dollar is climbing in the markets on anticipations that the U.S. economy is improving therefore hinting that the U.S. might be the first economy out of the major nations to exit stimulus measures. The Dollar Index, which usually measures strength of the dollar versus six major currencies, is currently traded at 80.55 while recording a high of 80.72 and a low of 80.42.
As European lenders said they might need aid from central banks while already officials are focused on the budget deficit of Greece, caused the euro to decline in the markets versus the dollar as investors sold the currency in disappointment regarding the outlook of European nation's fiscal position. The EUR/USD is currently traded at 1.3568 between the support of 1.3530 and the resistance of 1.3625 while recording a high of 1.3612 and a low of 1.3538.
The pound is depreciating in the markets versus the federal currency while the UK released economic data showing that the recession continues to ravage tax receipts therefore widening the budget deficit. The pair is currently trading at 1.5582 while so far recording a high of 1.5686 and a low of 1.5555, there is a support at 1.5500 and a resistance at 1.5640. The momentum indicators on the one-hour charts are showing us that the pair is being traded in an oversold area as investors are more interested in the outlook of the U.S. than the UK.
The yen after losing strength against the dollar this week, we see that it rebounded as the Bank of Japan (BoJ) is not going to lend more money or expand the asset-purchase program. The USD/JPY is traded at 90.70 above the support of 90.05 and below the resistance of 91.10 while recording a high of 91.20 and a low of 90.55.