The U.S Dollar fell against 15 of its 16 major peersthis morning amid ongoing speculations that the Fed will rush and issue another bond buying program to stimulate the faltering economic recovery which bolstered equity markets for the second consecutive day but dragged down the dollar along with treasuries amid fears regarding the worsening outlook of the economy on speculation Europe's deepening debt crisis may trigger banks loss across the board in addition to lower than forecasted sales of newly constructed residence in July, thus driving investors towards higher-yielding currencies.
The U.S. Dollar index, which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, slipped to currently trade at levels of 73.93, compared with the opening level at 74.06, while recording a high of 74.15 and a low of 73.58.
Gold dropped to currently trade at $1880.88 since opening at $1908.80 an ounce, while crude oil prices hiked to trade at $84.90, compared with the opening level at $84.34 a barrel.
The Euro rose against the Dollar, where the EUR-USD pair is trading at $1.4394, while recording a high of $1.4499 and a low of $1.4357. The pair is now trading among the major support at 1.4255and the major resistance at 1.4560.
The British Pound inclined against the U.S. Dollar, where the GBP-USD pair is now trading at $1.6495, while the pair recorded a high of $1.6573 and a low of $1.6454. The pair is now trading among key support at 1.6225and key resistance at 1.6715.
The U.S. Dollar dropped against the Japanese Yen, where the USD-JPY pair is now trading at ¥76.51, while recording a high of ¥76.92 and a low of ¥76.46. The pair is now trading between the support at 75.80 and the resistance at 78.45.