The dollar is mixed in markets versus major currencies, after the Group of Seven (G7)finance ministers met this weekend, as they did not come up with plans that will ease the decline of the federal currency in markets. The lower dollar against the euro is making exports for the euro zone more expensive, thus weighing on economic growth.
The euro is currently seen strong against the federal currency, while the euro zone today released its PMI services showing that it surpassed both the prior and expected readings; thus, hinting that third quarter economic growth will be better than the previous quarters. Investors gained slight optimism towards buying the euro, as it currently trades at 1.4601 between the support of 1.4567 and the resistance of 1.4620, while recording a high of 1.4654 and a low of 1.4579.
The pound is seen depreciating despite the
The dollar yen pair is trading in narrow ranges between the support of 89.70 and the resistance of 90.10 at 89.76, while recording a high of 89.97 and a low of 89.47. The momentum indicators are providing us with a downwards trend using the one-hour charts.