Both the euro and British pound advanced versus the US dollar. The euro actually reached its highest peak since January, thanks to the 1.00% industrial production results, compared to the 0.10% forecast. The EUR/USD is moving on a bullish momentum and will continue to do so as the forex trading pair moves beyond the 1.4000 level. The EUR/USD traded between 1.3912 and 1.4094. The better-than-expected unemployment rate supported a stronger British currency against the weaker dollar. On the daily chart, the resistance for the GBP/USD pair is around 1.6000. Like the euro, the GBP/USD is also on a bullish momentum and will probably sustain the positive results as it trades above the 1.6000 level. The GBP/USD reached a low of 1.5774 and a high of 1.6000.

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.

Fluctuating against major currencies, the dollar experienced the longest losing streak in almost 2 years, after the the euro posted some gains on its 4th week against the greenback. The movement of the dollar in the forex trading market is spurred by larger US job cuts, which may prompt the Fed Reserve to buy more debts. The EUR/USD traded at a high of 1.3984 and a low of 1.3832. The momentum is bullish as long as the pair trades beyond 1.3850.

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.