Dollar losses strenght as stocks move away from the lows

Tue, Nov 3 2009, 19:49 GMT
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FXstreet.com (Córdoba) – U.S. markets are still on the negative side but far from the lows. The Dow Jones is falling 0.38% to 9,752 but far from 9,700 (daily low). Energy and material stocks are rising boosted by a rally in oil and gold that recently hit a fresh record high at 1,085 an ounce. The Dollar and the Yen moved away from the highs of the day.

EUR/USD is back above 1.4700. The pair found resistance at 1.4730 and currently trades at 1.4717/20, 0.35% below today’s opening price. GBP/USD is consolidating above 1.6400 and continues to recover after falling to 1.6260 posting a one week low. USD/CHF pulled down below 1.0300, after hitting at 1.0337 a 3-week high.

USD/JPY is moving in a range with support at 90.15 and resistance at 90.40. Greenback failed to hold above 90.50 and lost strength. Against European currencies the Yen is back at the same levels it had at the beginning of the day.

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