The dollar extended its gains in the markets for the second day versus major currencies as there are still worries that the global recovery is taken longer to than presumed and this is pushing investors towards lower yielding assets as they sell higher yielding assets and seek safer currencies like the federal currency therefore causing the dollar to climb in the markets. The U.S. economy today is scheduled to release its consumer confidence in which expectations show will rise.

The euro is declining versus the federal currency despite the euro zone releasing its confidence survey's showing an improvement especially as consumer confidence rose to -19 from the prior -22, yet there are too many worries in markets to avoid investors to buy higher yielding assets. The EUR/USD is being traded at 1.4580 between the resistance of 1.4631 and the support of 1.4569 while recording a high of 1.4645 and a low of 1.4557.

In the United Kingdom, they released their GDP for the second quarter showing that the contraction narrowed to -0.6% from the preliminary contraction of 0.7% while on the year the nation continued to contract by 5.5 percent, the worst since 1955. As a result of this news and the pessimism that remains visible in the markets we see that the pound is depreciating in the markets against the U.S. dollar as the pair is being traded at 1.5840 between the support of 1.5825 and the resistance of 1.5932. The GBP/USD recorded a high of 1.5957 and a low of 1.5833.

The yen after climbing heavily vs. the dollar today the opposite of this is happening as the Finance Minister of Japan said that the government may step in to avoid the yen rising too much since this will weigh on Japan's exports, as a result of this the yen dipped in the markets. The USD/JPY is being traded at 89.77 between the support of 89.12 and the resistance of 90.10 while recording a high of 90.22 and a low of 89.61.