Optimism is back in the markets as investors are leaning more towards higher yielding currencies which therefore causes the yen and the dollar to tumble in the markets. The Dollar Index, which measures strength of the dollar versus six major currencies, is currently inclining trading at 80.90 while recording a high of 81.11 and a low of 80.75.

The euro after inclining as the euro zone released confidence data showing that they rose further as businesses and consumers are looking forward to the outlook while they happened to disregard the swelling deficit in Europe, now is seen declining as it was trading in an oversold area earlier. The EUR/USD is currently trading at 1.3470 between the support of 1.3380 and the resistance of 1.3515 while recording a high of 1.5431 and a low of 1.5288.

From the UK today, we saw that inflation continued to rise and this supported the pound to climb against the dollar, while still there are pressures around the currency as a result of political reasons, as there are projections that these upcoming elections are not going to have a clear winner. The GBP/USD is currently trading at 1.5367 between the support of 1.5330 and the resistance of 1.5455, so far we see that the pair recorded a high of 1.5431 and a low of 1.5288.

As we see the stock markets are rising followed by higher-yielding currencies, the yen is no longer bought as a safe-refuge which causes it to depreciate against the federal currency. The USD/JPY pair is currently trading at 93.14 above the support of 92.25 and below the resistance of 93.70 while recording a high of 93.17 and a low of 92.38.