The US dollar and the yen increased against the major currencies after the Asian stocks dropped affected by the slump in raw materials and commodities prices, which raised fears in financial markets and drove investor appetite for low-yielding assets.
The euro started today's session with a decrease against the dollar, as the pair trades around 1.4040 after recording the highest at 1.4098 and the lowest at 1.4032. The pair faces a support at 1.3970. The daily momentum indicators show the pair is in an oversold area.
The pound traded lower against the greenback, trading around 1.6170 after recording the highest at 1.6181 and the lowest at 1.6142. The pair faces a support at 1.6120. The daily momentum indicators show the pair is heading to the downside.
The dollar/yen pair decreased during the Asian session, as the pair trades around the 81.92 level, recording the highest at 82.16 and the lowest at 81.84. The daily momentum indicators show the pair is in an overbought.