The dollar rose in the middle of the European session today, relinquishing the losses recorded in the past two days ahead of the US economic data which is expected to reflect rising inflation pressures and slowing economic activity.
The USDIX is currently trading around 74.94 recording the intraday high at 75.02 and the low of 74.40 compared to the opening at 74.42.
The euro fell sharply against the dollar today after the failure of euro area finance ministers in reaching common grounds on the new bailout plan for Greece, and they might need more time with the persisting deadlock over the extent of private sector participation in the bailout.
The euro is currently trading around 1.4305 recording the intraday high at 1.4450 and the low of 1.4291 compared to the opening at 1.4439 and technically it's expected that trading levels will remain between the support level around 1.4285 and the resistance level around 1.4600.
The pound fell against the dollar after UK's jobless claims surged in May reaching the highest level since July of 2009 mainly affected by the deep reductions in the general spending, such as increasing taxes and firing number of workers in the public sector, the unemployment rate remained at 7.7%.
The pair is currently trading around 1.6269 recording the highest at 1.6440 and the lowest at 1.6353 compared to the opening 1.6375 and technically it's expected that trading levels remain between 1.6255 and the resistance level around 1.6635.
The dollar rose against the Japanese yen reaching 80.68 affected by the dominated fears in the financial markets about the sovereign debt crisis in the euro zone, which prompted investors to purchase low-yielding currencies which considered a safe haven.
The pair opened at 80.48 recording the highest at 80.75 and the lowest at 80.36, and technically is expected to fall provided breaking the 79.65 levels and settling below 80.75 targeting 78.00.