Yen falls against major currencies with the return of risk appetite

By @ibtimes on

Japanese yen fell against the dollar and other major currencies, amid increasing risk appetite, after a substantial rise witnessed in the U.S. housing data yesterday, which has increased the optimism about a recovery in the global economy.

The euro started today's session with an incline against the dollar, as the pair trades around 1.4400 after recording the highest at 1.4412 and the lowest at 1.4353. The pair faces a resistance at 1.4470. The daily momentum indicators show the pair in an oversold area.

The pound traded higher against the greenback, trading around 1.6348 after recording the highest at 1.6355 and the lowest at 1.6312. The pair faces a support at 1.6370. The daily momentum indicators show the pair is moving to the upside.

The dollar/yen pair increased during the Asian session, as the pair trades around the 82.92 level, recording the highest at 83.08 and the lowest at 82.68. The daily momentum indicators show the pair is in an oversold area.

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