The U.S. dollar recuperated from its earlier losses today when the dollar and yen slipped against higher-yielding currencies as the Federal Reserve and BoJ pledged to keep interest rates near zero for another period. The dollar index, which tracks the dollar movements versus a basket of major currencies, rebounded to 79.70 after gaining support at 79.50.
As for the sterling-dollar pair, it is still rising on the daily and 4-hour charts but minimized its gains after reaching a high of 1.5380. The pound took a boost after a report showed that U.K.'s jobless claims dropped in February at the fastest pace since 1997, reflecting the improvement in the British economy. Meanwhile, the pair is traded at 1.5325, recording a low of 1.5206, while it is moving between support at 1.5285 and resistance at 1.5345 then 1.5415.
With regard to the euro-dollar pair, it is declining slightly on the daily charts after reaching a high of 1.3817 earlier today. The outlook for the euro may improve on hopes Greece debt woes would be resolved after EU finance ministers said they will provide Greece emergency loans to tackle its budget deficit. However, details of the plan may be announced next week. The pair is currently traded at 1.3761, recording a low of 1.3735, where the coming support is seen at 1.3715 and next resistance is at 1.3830.
Relative to the dollar-yen pair, it is showing incline on the daily charts after breaching strong resistance at 90.34 which represents 38.2% Fibonacci to the upside trend that started in December. Currently, the pair is traded at 90.49, hitting a high of 90.70, and a low of 90.01, whereas support is seen at 90.00 while resistance is at 90.60.
