The dollar fell for the second day in a row with an improvement in the general sentiment and the ongoing correction, which was supported by the economic fundamentals from China as industrial production came better than expectations.
Today investors are waiting US inflation and retail sales data with a negative outlook, which assures that the U.S. economy is suffering from the weak performance across different sectors.
The USDIX index is currently trading around 74.40 recording the intraday high at 74.62 and the low of 74.26
The euro is still rising against the dollar since yesterday supported by the successful Greek debt sale better than targeted levels. As for the Spanish government it sold about 5.4 billion euros of Treasury bills but it was below the maximum target set, but was still met with good demand.
The sales came after remarks by Standard &Poor's (S&P) that Greece is likely the first euro zone nation to default after they downgraded the credit rating to CCC by three steps to become the world's lowest.
The pair is currently trading around 1.4430 recording the intraday high at 1.4475 and the low of 1.4375.
The pound rose against the dollar even after inflation rates settled around 4.5% the highest since 2008, as it remains less pessimistic than further rise amid a bleak economic outlook. The GBP/USD is currently trading around 1.6390 recording the highest at 1.6440 and the lowest at 1.6353 compared with the opening price at 1.6375; technically it's expected to rise to targets at 1.6635, provided stability above 1.6345 levels.
The dollar fell against the Japanese yen after the BOJ's decision to hold rates steady and China raised the reserve requirements once again on the back or the rally in inflation. The pair is currently trading around 80.20 recording the intraday high at 80.45 and the low of 80.05 and technically the pair is expected to continue the bearishness provided stability below 80.75 targeting areas of 78.00.