US Dollar Held Firm against Majors

The US dollar managed to hold on its gains against the Euro and the British Pound even when the US ADP Employment came worse than expectation, where 250 thousand jobs was terminated in November along with labor costs which eased from the previous reading, even when the ISM Non Manufacturing reading plunged heavily down to 37.3 levels from the previous 44.4.

The weak EU fundamentals which was released earlier today weakened the Euro, whereas it could reach higher than 1.2740 levels, where the US dollar continued to strengthen pressuring the Euro to record a low of 1.2601 where 1.2600 levels is considered to be psychological barrier but it comes before 1.2575 strong support levels.

The British pound against the US dollar fell, leaving the pound to reach a high of 1.4933 levels and a low of 1.4663, as it's currently trading at weak levels which are considered to be negative against to the pound. As now the pair is facing a strong support at 1.4790 levels which needs to be breached in order to end the current downside channel but the gained strength of the US dollar pushed the pound down to currently trade at 1.4784 levels.

But the US strength was not really seen against the Japanese Yen as the USD/JPY pair fell heavily to record a low of 92.53 and it managed to incline back to currently trade at 93.0 levels. Japan is not happy from those levels because now exports will be curbed harming the overall growth in this industrialized economy.

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