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Dollar recovered some of the lost ground yesterday, after declining for continuous days weighed down by increasing expectations of further interest rate cuts from the Federal Reserve under the view of weakness in the economy.

Investors are awaiting the outcome of the interest rate meetings by European Central Bank and Bank of England, and Federal Reserve chairman Ben Bernanke's speech later this week for further cues....

Active trading above 1.4510 is the sign of weakness in dollar. Supports are 1.4630, 1.4755, 1.4788, 1.4966 and 1.5052. Resistances are 1.4450, 1.4320 and 1.4277. More weakness can be expected above 1.4968

In spot trading, dollar closed at 1.4688 (1.4743) against the euro, after trading in the range 1.4756 – 1.4657.

Last day, DEUR March traded in the range 147.36 – 146.70 and closed at 146.90.

Intra-day trading ranges; supports are 146.33, 145.80. Resistances are 147.63, 148.19.