The dollar and the Japanese currency, rose against major currencies during the Asian session, after the expectations indicated that the global economy is losing momentum. Also the British economy released yesterday the house prices index which plumbed, that why to push the international investors to invest in safer assets such as the yen and dollar.
Today, the Chinese economy issued today its trade balance surplus widened during July, where the China's export inclined during the month of July, while the U.S. economy will release the Unit labor coast during the second quarter of the year.
Euro fell against the dollar and the Yen, where the euro/dollar pair recorded a low of 1.3134 and a high of 1.3218, having the pair trading around 1.3152. According to daily momentum indicators, indicates the pair is in down trend, trading between its resistance at 1.3125 and a support at 1.3055.
Turing to the British pound slumped against the dollar during the Asian session, and declined to the 1.5860, recording the lowest of 1.3134, trading around 1.5808. On the other hand, the four hour and daily momentum indicators indicate that the pair is in an overbought area signaling a possible correctional movement.
The dollar/yen pair fell to reach the 86.66 level, after recording a high of 86.04. The pair is trading now at 85.80. On the other side, the pair is trading in an overbought area according to the four-hour and daily momentum indicators, the resistance level ahead resides at 87.00 and the support at 84.80.