The dollar extends its climb in markets versus major currencies, since Philadelphia's Federal Reserve Bank President, Charles Plosser, stated to the Wall Street Journal that the central bank should change their point of view from keeping benchmark rates low for an extended period. The Dollar Index, which usually measures strength of the dollar versus six major currencies is currently traded at 80.85, while recording a high of 81.28 and a low of 80.67.
The euro is declining versus the dollar on anticipations that Greece will have to discuss more plans on narrowing their budget deficit ahead of the meeting scheduled on the 5th of this month, where Prime Minister George Papandreou will meet with Germany Chancellor Angela Merkel. Looking at the EUR/USD we see that they are traded at 1.3523 above the support of 1.3485 and below the resistance of 1.3575, while the pair records a high of 1.3576 and a low of 1.3433. The volume indicator supported by the one-hour charts show us that there is low volume in markets.
The pound resumes its decline in markets as there are worries that the next new government elected for the United Kingdom might have a tough time trying to narrow the budget deficit of the economy. Based on the woes in markets, have caused investors to sell the pound versus the dollar; while the pair is currently being traded at 1.4929 between the support of 1.4850 and the resistance of 1.4985. The GBP/USD so far recorded a high of 1.4996 and a low of 1.4852.
The dollar yen pair's movement is volatileas the pair trades at 89.09, while recording a high of 89.36 and a low of 88.88; technical charts reveal support at 88.50 and a resistance at 89.70, while momentum indicators on the one-hour charts provide us with an upwards trend, therefore hinting that the dollar will gather momentum to rally past the yen.