The dollar was broadly higher against the other major
currencies on Monday, as the U.K. shock decision to leave the
European Union continued to rattle financial markets around the globe and weigh
heavily on risk sentiment.
The
pound fell to fresh 31-year lows against the dollar on Monday as fears over the
U.K. vote to exit the European Union continued to grip
financial markets.
GBP/USD slumped
to lows of 1.3194, the weakest since 1985 and was last at 1.3218, off 3.36% for
the day.
Sterling fell as much as 11% against the dollar on Friday in
the worst one day decline in recent history.
EUR/USD as down 0.98% at
1.1007, while EUR/JPY fell 1.62% to 111.82.
The
dollar fell against the yen, with USD/JPY sliding 0.66% to 101.55,
after falling to lows of 99.15 on Friday, the weakest level since November
2013.
Technical Overview
Dollar Index has support at 95.20 and resistance at 97.10.
Three consecutive + weekly close above 97.10 will take it to 97.90 --98.50 , else could test its support level 95.20.
Further upside rally can be seen above 98.50.
Fresh selling can be initiated below 95.50.
