Worries are strengthening in the currencies market after that the finance ministers from the Group of Seven nations declared that the global slowdown will continue on deepening despite overall different governmental efforts to ease to crisis forecasting therefore a worsened performance of economies since the economical outlook is endlessly darkening.
Consequently, the euro-dollar pair is slumping as worries encouraged traders to get rid of the euro in front of the dollar since it is a high-yielding asset, seeing the Union's currency traded at 1.2763 recording a high of 1.2808 and a low of 1.2726. Moreover, a resistance level could be detected at 1.2848 and a support level at 1.2710 which are in fact levels in which the pair is trading as mixed signs are witnessed in the momentum indicators at different time scales.
Following the euro-dollar lead, the pound-dollar pair is falling as well since the risk of appetite is fully corroded by the fears that were born with the G7 forecasts which permitted the dollar to advance against the royal pound that is so far traded at 1.4246 recording a high of 1.4328 and a low of 1.4201. Plus, the pair shows a tendency to slip further to the downside as it is collapsing in the momentum indicators.
As for the yen-dollar pair, it is rising since the yen lost some appeal against the dollar as Japan's economy sharked by the most since 1974, despite the fact that the yen is the lowest-yielding currency. So far, the yen is traded at 91.70 recording a high of 92.07 and a low of 91.42 along with a resistance at 92.40 and a support of 90.86.