![]( "US Dollar inclined against majors")
Investors, across financial markets, shifted their attention toward the US dollar after the US non-farm payroll reading cleared that the pace of contraction eased slightly, which gave a boost that recession had bottomed out in the world’s leading economy, while further improvements will take place by the end of the year.
The sixteen nation’s euro plunged for the second consecutive day, to currently trade at 1.3983 levels after recording a high of 1.4027, and a low of 1.3926, earlier today. According to the released fundamentals, we can say that improvements are taking place in the euro area, bolstered by the ongoing interventions by policy markers. The pair managed to breach 1.4000 today, yet it couldn’t resist 1.4030 levels; therefore it plunged again.
The British Pound also weakened against the US dollar for the second consecutive day, to currently trade at 1.6341 levels; after recording a high of 1.6427 and a low of 1.6325, earlier in the session. However, the sterling have the chance to escalate higher today, targeting 1.6600 levels yet before it needs to breach 1.6430 levels.
However, against the Japanese Yen; the US dollar declined for the second day, as it currently is trading at 95.88 levels, after recording a high of 96.11 and a low of 95.69. Low volume of trading might take place today because the US markets are out celebrating July 4 Independence Day.