Forex news: greenback creeps higher versus majors, but eases against yen



image The US currency showed firmness against other major currencies as a fall in stock prices prompted investors to flock to their perceived safety.

The dollar that weakened during early New York trading Friday recovered the losses during the later part of the session.

The dollar strengthened in Monday’s early trading versus the single currency, climbing to a 4-day high of 1.4523. If the dollar rises further, 1.43 is seen as the next likely target level. The EUR/USD rally closed Friday’s North American deals at 1.4582.

The US currency rallied to a 4-day high of 1.6599 against the pound during Monday’s early trading, compared to 1.6679 hit late Friday in New York. On the upside, the next likely target for the cable is seen around the 1.645 level.

Against the currency of Switzerland, the US dollar spiked up to a 4-day high of 1.0410 during today’s early trading. If the greenback rises further, 1.049 is seen as the next target level. At yesterday’s New York session close, USD/CHF rally was quoted at 1.0378.

The US dollar also traded higher against the commodity related currencies during this time period. The dollar climbed to a 4-day high of 0.6971 against the New Zealand dollar, from Friday’s closing value of 0.7061.

Against the Canadian dollar and the Australian dollar, the greenback hit a 4-day high of 1.0861 and 0.8551, compared to last week’s closing values of 1.0781 and 0.8633, respectively.

On the other hand, dollar eased against the Japanese unit, touching a low of 90.22, compared to 90.67 hit late Friday in New York, with 89.8 seen as the near term resistance level.

ECJ




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