Important Levels to Watch for:

- Resistance line of 1.17181 and 1.17452.

- Support line of 1.16304  and 1.16302.

Commentary/ Reason:

- The dollar traded at $1.1657 per euro on Thursday in Asia, slightly over a two-month high reached on Wednesday.

- A second wave of coronavirus infections in Europe threatened the economic recovery in that region pushing equities lower and propping up the safe-haven dollar.

- The dollar is likely to continue to rise as another spike in coronavirus cases and the Federal Reserve’s warnings that the U.S. economy needs more fiscal stimulus cause investors to repatriate funds from riskier assets.

- The Ifo survey due later today is forecast to show an improvement in business morale in Germany, Europe’s largest economy, though yesterday’s European PMI data showed that the pandemic slammed the euro zone’s services industry into reverse.




Important Levels to Watch for:

- Resistance line of 0.92624 and 0.92865.

- Support line of 0.91845 and 0.91605.

Commentary/ Reason:

- The dollar was quoted at 0.9230 Swiss franc.

- The Swiss franc close to a nine-week trough against the dollar.




Important Levels to Watch for:

- Resistance line of 1.27850 and 1.28243.

- Support line of 1.26577 and 1.26183.

Commentary/ Reason:

- The pound bought $1.2716.

- The pound is nearing its weakest level since July.