As more signs continue to support the fact that the worst of this global recession is over, we see that this is reducing the appeal of dollar in markets which caused it to tumble in markets versus major currencies. The Dollar Index, which measures strength of the dollar versus six major currencies, is currently declining where it is trading at 81.00 while recording a high of 81.20 and a low of 80.80.
The euro-dollar pair is trading in a sideways wave at 1.3505 between the support of 1.3435 and the resistance of 1.3560, while today we saw the euro zone manufacturing sector expand more than markets were projecting, yet this news did not support the euro much as investors' eyes are on tomorrow's US jobs report, which will determine the trend of the market. The volume indicator is showing us on the one-hour chart, there is low volume in the markets while so far the pair recorded a high of 1.3561 and a low of 1.3475.
The UK like the euro zone, released its PMI manufacturing showing that it surpassed expectations and this data supported the pound versus the dollar as currently we are seeing the pair rise while trading at 1.5226 between the support of 1.5170 and the resistance of 1.5270. The pair so far recorded a high of 1.5247 and a low of 1.5170, as the technical charts are showing us sideways movements occurring in markets.
The yen as known to be the lower-yielding currency, we see tumble versus the dollar as investors continue buying higher-yielding currencies. The USD/JPY is currently trading at 93.52 between the support of 92.70 and the resistance of 94.00 while recording a high of 93.72 and a low of 93.27.