The British pound’s previous gains seem to fade away as the British currency came out weaker versus the dollar, as a result of the negative opening of Wall Street and the US dollar gains across the board. The GBP/USD pair traded between a low of 1.5728 and a high of 1.5863. The GBP/USD pair might fluctuate to the 1.58 levels and beyond if it manages to hold above the support level of 1.57.

The Japanese yen also weakened versus the dollar for two straight days, trading below the 82 level. The USD/JPY reached a high of 81.97 and a low of 81.30. It is expected to be a positive trend for the currency pair should it break the 82 resistance level. The Canadian dollar also declined versus the US dollar for the second day, with the USD/CAD trading at a high of 1.0377 and a low of 1.0225.

The British pound recovered versus the US currency after reaching its biggest weekly loss. The worse than expected Mortgage Approvals didn’t pull down the British currency, as buyers seemed to have an appetite for better yielding assets, overpowering the sellers in the end. Still, it is a negative momentum for the British pound, although the GBP/USD pair almost broke the daily moving average. The trend is still bearish, as the GBP/USD traded at a low of 1.5677 and a high of 1.5772.

Among the currency majors to post gains against the US dollar are the Japanese yen and the Canadian dollar. The Japanese yen touched a 15-year high versus the dollar, as the USD/JPY traded at a low of 80.40 and a high of 81.32. The Canadian dollar also bolstered versus the US currency to touch a weekly high. The USD/CAD traded at a low of 1.0154 and a high of 1.0258.

While the euro rallied versus the dollar, the British pound suffered from its highest loss against the dollar in a week since August. This outcome was prompted by speculations that the G20 summit in South Korea will throw support to the dollar over the pound. For the past few days, the GBP/USD has been on a bearish trend on the daily chart. The GBP/USD traded at a high of 1.5750 and a low of 1.5651.

Following the G20 resolutions, the Japanese yen remained at almost the same level against the dollar, as the USD/JPY traded at a low of 80.99 and a high of 81.50. The Canadian dollar, on the other hand, fluctuated versus the US dollar, after hints of a weaker economic recovery. The USD/CAD reached a high of 1.0302 and a low of 1.0223.

In the US, core retail sales came out at 0.40% as expected, core CPI came out at 0% instead of the expected 0.10%, and the Fed budget balance came out at -34.50B instead of the expected -32B. Dow Jones fell by -0.29%, NASDAQ gained by 1.37%. Gold fell by -0.4% to close at $1,372 per ounce, and crude oil fell by 1.7% to close at $81.25 per barrel. In Europe, CPI results remained unchanged at 1%. Investors will have to be wary with all of the topsy-turvy changes going on in the market.

The euro gained against the dollar, trading at a high of 1.4122 and a low of 1.3980. The GBP/USD pair also went up to trade at a high of 1.6067 and a low of 1.5932. In perhaps the biggest news of the day, the JPY/USD pair hit a 15-year low, trading at a high of 81.72 and a low of 80.89.

The Japanese yen also went up versus the dollar, with the USD/JPY pair trading at a high of 81.80 and a low of 81.20. As the US market continues to plummet, the USD/JPY has set 15-year lows as it reached 81.20. With that, the USD/JPY is expected to sustain a bearish momentum as it trades below 81.75. The Canadian dollar also posted gains versus the US dollar, with the USD/CAD pair trading at a low of 1.0000 and a high of 1.0105.

The euro, on the other hand, posted gains versus the dollar as a result of the weakening dollar following the Fed Reserve’s plan to buy Treasury securities and boost the expectations for inflation. For the past few days, the currency pair has fluctuated around 1.3900. Nevertheless, the momentum is still bullish for the pair. Trading above the 1.3750 level, the trend is still positive. The EUR/USD traded at a low of 1.3775 and a high of 1.3939.

The Japanese yen is among the major currencies that rose against the dollar after the plans of the Fed Reserve meeting was made public. Breaking the 82.00 support level, the momentum is still bearish. In the end, the USD/JPY traded at a high of 82.31 and a low of 81.65. Overall, the US dollar declined versus forex trading majors.

The British pound also strengthened versus the dollar. Many investors went for the British currency after news of the poor economic data from the US came out and the Bank of England set the bond holdings target at 200B pounds. The GBP/USD pair reached a low of 1.5823 and a high of 1.5966. The pair is still trying to breach the 1.6000 resistance level. Once it goes beyond this mark, the uptrend for the pair will continue.

Following the footsteps of the euro, the British pound also reached an 8-month high against the dollar. The Bank of England also has one of the lowest interest rates at 0.5%. Unlike other countries, it didn’t resort to buying more bonds just to support the economy. As long as the price reaches beyond the 1.575 level, the GBP/USD remains in a bullish momentum. The forex trading pair recorded a high of 1.6018 and a low of 1.5826.

The yen also recorded a 15-year high versus the dollar, amidst Fed Reserve’s plan of easing the monetary policy to bolster the US economic recovery. With a negative trend pulling the USD/JPY pair, it is still a bearish momentum for the dollar. The USD/JPY traded between 82.11 and 83.03.

Efforts to support recovery led to the euro reaching an 8-month high against the dollar. This movement is highly influenced by speculations that, along with the Bank of Japan, the Fed Reserve will also increase government debt purchases. In the end, the EUR/USD traded at a high of 1.3948 and a low of 1.3798. Cutting short its rally for the past few days, the British pound declined versus the dollar. The GBP/USD reached a low of 1.5832 and a high of 1.5940.