$Dollar recovers previous day losses

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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.

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Jan 9 Forex - Dollar

In New York afternoon trade, the euro was down 0.4 percent at $1.4650 after dipping to a session low of $1.4640. The dollar was up 0.5 percent at 109.45 yen , shrugging off a drop in U.S. equities. It earlier touched an intraday peak of 109.71 yen.

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Jan 9 Forex - Dollar

The dollar rose today (Wed), shrugging off worries of a U.S. recession, as investors started to focus on a potential growth slowdown in the euro zone after dour German industrial output and retail data.

In New York afternoon trade, the euro was down 0.4 percent at $1.4650 after dipping to a session low of $1.4640. The dollar was up 0.5 percent at 109.45 yen , shrugging off a drop in U.S. equities. It earlier touched an intraday peak of 109.71 yen.

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January 14

$ today slumped to a near-record low against the euro on growing FED rate cut expectations this month ....
In late morning European trading, the euro rocketed to 1.4909 dollars from 1.4775 dollars late Friday in New York. The European single currency hit a record high of 1.4967 dollars Nov. 23......Today, the dollar fell to 107.73 yen from 108.81 yen late Friday.