Forex trends: dollar’s slipping against majors

image Early in Asia today, greenback weakened versus majors, hitting a 4-day low against the European currency.

Against the European currency, the US dollar traded down during early Asian deals on Tuesday. At 10:35 pm ET, the dollar touched a 4-day low of 1.4723 against the euro, compared to 1.4681 hit late New York Monday. The next downside target level for the rally is seen around 1.491.

The US currency that closed Monday’s North American session at 1.6220 against the British pound declined to 1.6261 at 10:35 pm ET. Cable is currently trading at 1.6248 with 1.659 seen as the next target level.

Against the Swiss franc, the greenback edged down during Tuesday’s early Asian deals. At 10:35 pm ET, the USD/CHF pair slipped to 1.0297, compared to Monday’s closing value of 1.0326. If the pair falls further, 1.014 is seen as the next target level.

The US dollar that closed Monday’s New York deals at 91.94 against the Japanese yen hit a low of 91.65 during today’s early Asian trading. On the downside, 90.2 is seen as the next target level for USD/JPY rally.


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