The dollar fall against
a basket of currencies after six straight days of gains on Wednesday, a flat
performance for equities and commodities markets prompting profit-taking by
some of those who have backed the U.S. currency in the past week.
The
yen gained half a percent and the euro around 0.2 percent, halting a steady
march by the greenback since it hit respectively 19- and 9-month lows at the
start of May.
A
series of threats by Japan to intervene on its currency have had something to
do with that turnaround and Koichi Hamada, an economic adviser to Prime
Minister Shinzo Abe, was the latest to sound a currency market warning.
Dollar currently trading at 94.00,
support at 93.60 resistance at 95.20 ,
close above 95.20 it can touch 95.50—96.00+ marks in days to come else could
test its support level at 93.60.
Further downward panic can be seen below 93.60
