In early European trading today the US currency revealed mixed trading versus its main opponents. While the greenback pared Asian session gains against the franc and the pound, it showed choppy trading versus the yen.
Versus the euro, the dollar advanced in early Asian deals, but pared gains in the latter part of the session. But the dollar soared again in early European trading. Overall, eur/usd rally has been showing choppy trading since yesterday.
The dollar bounced between 91.3 and 91.6 against the yen in both Asian and European deals on Wednesday. The next downside and upside target levels for USD/JPY rally are seen around 90.8 and 92.1, respectively. The pair is currently worth 91.37, compared to yesterday's closing value of 91.52.
The dollar that strengthened to 1.4399 against the pound at 1:30 am ET Wednesday declined thereafter. Cable that closed yesterday's trading at 1.4473 is currently worth 1.4490. If the dollar weakens further, it may likely target the 1.456 level.
The dollar dropped against the Swiss franc after hitting a high of 1.1558 at 1:35 am ET Wednesday. As of now, USD/CHF pair is worth 1.1515 with 1.149 seen as the next downside target level. At yesterday's close, the pair was quoted at 1.1525.
The dollar slipped to 1.1980 against the euro before bouncing back at 3:20 am ET Wednesday. Presently, the dollar is worth 1.1948 per euro, compared to yesterday's New York session close of 1.1972. If the dollar strengthens further, 1.188 seen as the next target level.
