U.S. Dollar Falls Against Majors

The U.S. dollar weakened against the other major currencies in the pre-European session on Wednesday.

The U.S. dollar fell to 5-day lows of 1.0909 against the euro and 0.7177 against the NZ dollar, from early highs of 1.0874 and 0.7147, respectively.

The greenback dropped to a 2-day low of 0.9927 against the Swiss franc, from an early high of 0.9958.

Against the pound and the Canadian dollar, the greenback slipped to 1.2184 and 1.3337 from early highs of 1.2157 and 1.3359, respectively.

The greenback edged down to 0.7704 against the Australian dollar and 104.08 against the yen, from early highs of 0.7626 and 104.38, respectively. The greenback had fell earlier to a 6-day low of 0.7709 against the Australian dollar and a 2-day low of 104.02 against the yen.

If the greenback extends its downtrend, it is likely to find support around 1.10 against the euro, 0.73 against the kiwi, 0.98 against the franc, 1.26 against the pound, 1.31 against the loonie, 0.78 against the aussie and 102.00 against the yen.