| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.329 | 97.4 | 1.5705 | 1.2115 | |
| Resistance | 1.311 | 96.7 | 1.5535 | 1.206 |
| 1.308 | 95.75 | 1.5485 | 1.1945 | |
| 1.2925 | 94.7 | 1.531 | 1.183 | |
| Support | 1.2805 | 93.55 | 1.525 | 1.1765 |
| 1.257 | 92.5 | 1.4985 | 1.1715 |
The dollar rose against the euro on Wednesday as market players remained skeptical that the latest U.S. measures to boost consumer lending would ease concerns about the financial crisis. Market players were doubtful that successive U.S. steps aimed at restoring confidence in the financial system and shoring up the deteriorating economy would be sufficient, traders said.
Worries over the global economic downturn and credit jitters have kept investors wary of taking risks, limiting selling of the dollar and yen, traders said. While the yen has been outperforming overall on growing investor confidence in its safe haven status, sentiment towards the dollar may be turning bearish, some traders said.
The U.S. Treasury and Federal Reserve announced on Tuesday further measures worth about $800 billion to support the debt and mortgage-backed securities issued by mortgage giants Fannie Mae and Freddie Mac, as well as measures to support asset-backed consumer lending.
The dollar has been supported by repatriation flows and risk aversion despite the slumping U.S. economy and financial crisis, thanks to its status as the world's most liquid currency and key global settlement currency. But some traders said safe-haven demand for the dollar was weakening.
In contrast, the yen's safe-haven role is sustained because of relatively light damage to the Japanese financial system and economy compared to that of the United States.The yen has gained as Japanese investors sold overseas assets while others have unwound carry trades in which investments in high-yielding assets were financed by the low-yielding yen.
A report on Tuesday showed the U.S. economy shrank at a faster rate in the third uarter than was originally estimated, while a fall in U.S. house prices accelerated, suggesting the Fed may need to cut interest rates further.
Today's Economic Events
| Time | Event | Currency | Period | Previous | Forecast | Significance |
| 23:50 | Monetary Policy Meeting Minutes | JPY | 2 | |||
| 21:45 | Trade Balance | NZD | -1183M | -1000M | 3 | |
| 15:35 | Crude Oil Inventories | USD | 1.6M | 2 | ||
| 15:00 | New Home Sales | USD | Oct | 464K | 443K | 3 |
| 14:45 | Chicago PMI | USD | Oct | 37.8 | 36.5 | 2 |
| 13:30 | Core Durable Goods Orders m/m | USD | Oct | -1.00% | -1.40% | 3 |
| 13:30 | Unemployment Claims | USD | Weekly | 542K | 530K | 3 |
| 13:30 | Core PCE Price Index m/m | USD | Oct | 0.20% | 0.10% | 2 |
| 13:30 | Durable Goods Orders m/m | USD | Oct | 0.90% | -2.80% | 2 |
| 13:30 | Personal Spending m/m | USD | Oct | -0.30% | -0.10% | 2 |
| 13:30 | Personal income | USD | Oct | 0.20% | 0.10% | 2 |
| 9:30 | GDP q/q | GBP | Quarterly | -0.50% | -0.50% | 3 |
