The dollar fell against the euro and other major currencies for the second consecutive day after the Standard & Poor's agency cut the credit rating of the United States, raising fears about the future of the recovery in the global economy.
The euro increased against the U.S. dollar during today's Asian session. The EU currency is trading as of this writing at 1.4334 after recording the highest of 1.4376 and the lowest of 1.4290. On the short term the currency faces a resistance at 1.4430 while the momentum indicators show the pair is in an overbought area.
The pound advanced against the U.S. dollar during today's Asian session touching the highest of 1.6453, then it weakened further recording the lowest of 1.6384, and as of this writing it is trading at 1.6438. On the short term the currency faces a resistance at 1.6510, with the momentum indicators show the pair is heading to the upside
The dollar/yen pair decreased today after its previous rise to cover the upside gap, where it reached to its lowest at 77.77 level, the pair now is trading at 77.84 recording the highest of 76.99. Momentum indicators show the pair in an oversold area.