So far the European countries still see a reduction in its credit rating, but do not see the impact the euro in the same amount that was influenced by the former, it has become traders believe that the debt crisis is not a European crisis but is it is rather a crisis that could affect many global economies such as the United States with the highest credit rating since 1917 when the level of AAA.
However, we can not neglect the effect of reducing the credit rating of Greece to the lowest possible level by the agency Fitch, but this effect was limited compared to the effects that we used to see before.
As for the euro-dollar pair, the euro rose against the U.S. dollar for the second day in a row and has risen from EUR U.S. $ 1.4155 level to touch the highest at 1.4281 dollars per euro. But, we have seen some profit taking in financial markets since the concern of reducing the credit rating of the United States lead to weakness in the dollar but it also caused the profit-taking for high-yield assets, which can be considered, including the euro by comparing the interest rate at the ECB interest with the U.S. Federal.
Although some of the decline experienced by the euro after being subjected to profit-taking in today's session, but it is still trading a tendency towards the positive against the U.S. dollar, the dollar, the U.S. is still suffering from a move away traders him concern the adoption of the policy of quantitative easing third and fear of the downgrade credit of the United States.
Also, the stability of the pair above the 1.4150 support level and is likely to see continued strong upward trend to test the resistance level of 1.4215 on the price of the closest and the return of trading it might see a new attempt to penetrate the most important resistance 1.4285 dollars per euro.
Similar to the performance of the pound sterling performance of the euro today, and this may be an indication that the actual currency markets depends on the movement on the movement of the exchange rate of U.S. dollar. This is natural, since the traders are focusing on developments in the U.S. economy, and started on the prospects for the dollar pricing policy of quantitative easing third or reduce the credit rating of the United States.
The exchange rate of pound sterling today against the U.S. dollar after touching the lowest 1.6093 to touch the top at a price of 1.6192 dollars to pounds sterling each, and now we see that trading close below 1.6125, which is considered a watershed technically important the possibility of testing the level of 1.6180 and possibly 1.6245 or return to test support at 1.6045 again.
Trading the U.S. dollar against the Japanese yen this day very, very volatile between the level of 78.44 and 79.59 yen per U.S. dollar. Between selling the dollar, and the fears for government intervention in the yen again, we see the volatility rises to the husband. However, trading pair U.S. dollar against the Japanese yen today and yesterday was in the levels of the lowest levels of the dollar in 17 - March -2011, and those levels achieved in the 16 and 17 last March was the lowest historically dollars, and we see the dollar despite rising slightly against the Japanese yen today, but it is still within the scope of the most vulnerable in the history of the modern American economy.