The US dollar is declining on Monday though by far it is partially maintaining positions, gained last week, when the fears about the economic stance made the traders invest in the most liquid currency of the world.
The dollar index determining the fluctuations of the US dollar versus six majors on Friday uprose to a month-high of 83.304. The euro is taking up defense positions staying not far from a five-week low against the US dollar and a seven-week – versus the yen. On Friday the European Common currency plunged to these levels when the member of the ECB council Axel Weber stated that the ECB should maintain the monetary policy easing. This increased the worries about the eurozone economic condition. The euro Friday descend reminded the investors about existing concerns regarding the sovereign debt and supported the last week contradictions between the encouraging corporate news and weaker than expected economic data.
A trader from the Japanese brokerage company stated that the market has re-focused from the US to the euro area; the US dollar maintains the demand in safe-haven assets, which helps it to trade above a 15-year low versus the yen.
The euro increased versus the US dollar by 0.13 % to $1,2718 being around a five-week bottom of $1.2664 hit on Friday. The support is expected at the border of $1,2605.