Investors' confidence remains unstable and that was reflected on major currencies moves against the dollar. The federal currency is advancing against all currencies, while the euro is weakening due to Greece debt problems, and the yen lost its advantage as a refugee after the dollar yen pair broke major levels giving a selling chance for the yen and that was why it fell to a eight weeks low against the euro.
The euro dropped the Asian session recording a low of 1.3384, before it inclined again to the 1.3430 levels. Today the euro zone's unemployment will be released and it is expected to show unemployment rose to 10.0% in February, and if the actual reading came meeting market forecasts, the euro will continue falling targeting the 1.3360 levels.
Regarding the pound dollar pair, it reaching the 1.5060 levels, as the pair lost momentum and volumes declined in the Asian session, which helped the pair to stabilize around these levels. The royal currency recorded a high of 1.5099 and a low of 1.5041, and the pair will be consolidating over the short and medium terms, but downside pressures remain founded on the medium term.
The dollar yen pair breached a downside trend on the weekly charts, and that was why the pair inclined. The yen dropped against major currencies recording eight weeks low against the euro at 125.45. The dollar yen pair is trading around 93.18 which a resistance level, but if the pair breached this area; it will jump to the 94.00 levels. However, the pair recorded a high of 93.59 and a low of 92.79.