The Japanese yen fell against the dollar and other major currencies after the Chinese economy reported that inflation still at the highest level, which increased fears that the Chinese government on its way to take further action to tighten monetary policy which could lead to weak demand from the Chinese economy.
The euro started today's session with a decline against the dollar, as the pair trades around 1.4460 after recording the highest at 1.4501 and the lowest at 1.4450. The pair faces a support at 1.4417. The daily momentum indicators show the pair in an overbought area.
The pound traded lower against the greenback, trading around 1.6330 after recording the highest at 1.6371 and the lowest at 1.6315. The pair faces a support at 1.6300. The daily momentum indicators show the pair is heading to the downside.
The dollar/yen pair decreased during the Asian session, as the pair trades around the 83.24 level, recording the highest at 83.74 and the lowest at 83.14. The pair faces a support at 83.00. The daily momentum indicators show the pair is in an oversold area.