The dollar declined against majors 24/7/2009

The euro dollar pair inclined today, recording a high of 1.4226 and a low of 1.4134. The pair broke the 1.4150 level that was a strong resistance supported by improving risk appetite, as signs of recovery were witnessed in the world economy especially after corporate earnings topped analyst's forecasts. The pair faces a resistance at 1.4236 the up-trend is dominating the pair's trades, so it is expected that the pair will break the resistance level to target 1.4236. the pound dollar pair, it is consolidating between 1.6450 and 1.6520 having the royal currency trading around $1.6480. Yesterday, fundamentals concerning retail sales in England, showed that retail sales inclined by 1.2% in June compared with May the UK released its GDP for the second quarter advanced reading showing that the contraction narrowed to -0.8 percent from the first quarter contraction of 2.4% which is worse than the expected contraction of 0.3 percent, The GDP annualized reading for the second quarter advanced reading widened to -5.6% from -4.9% while the markets were projecting a contraction of -5.2 percent. This reading marked the worst since 1955. the dollar yen pair declined today will get back to the 94.50 level, while yesterday the pair managed to breach the 95.00 level. The pair recorded low of 94.58 and a high of 95.16 Today.