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Dollar in diverse trade before European inflation data, January 15 2013

ForexZig.com January 15, 2013
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U.S. dollar

The American dollar appeared in diverse trade against its major competitors during today’s Asian session before the release of official data on European inflation.

During today’s Asian trading, the currency pair EURUSD was traded at the level of 1.3376. The pair was expected to meet support at 1.3254, bottom from Friday, and resistance at 1.3398, peak from Monday.

Later today, market participants expect rate of inflation in several European countries, which may have impact on EURUSD. The increased rates of inflation could be a hint that the European Central Bank will have to shorten economic stimulus measures.

Besides, trader anticipated official data on inflation in the U.K., which may influence on the GBPUSD.

That pair was traded at the level of 1.6091, adding 0.08%. GBPUSD is expected to meet support at 1.6012, bottom level from Thursday, and resistance at 1.6160, peak from Thursday.

At the same time, the Japanese yen was traded higher against the dollar, with USDJPY reaching the level 88.98. This situation differs from the recent trend of USDJPY, where the yen weakened considerably against the American dollar on a steady basis since early December.

The dollarwas higher against both the Australian and New Zealand dollars. The AUDUSD was traded at 1.0553, while NZDUSD fell down to 0.8407.

As a whole, the dollar index had a slight change on the session, rallying 0.01% to the level 79.50.

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