The greenback advanced higher against major currencies Thursday as a fall in most Asian stock prices boosted demand for currencies perceived as safe havens.
The dollar and the yen are viewed as safe-haven currencies and both currencies gain, when investors turn risk averse and fall when risk appetite improves.
Start trading in currencies, most happening place to trade
Asian stock markets are mostly down in the red today with investors treading cautiously on concerns over the pace of a global economic recovery.
The Federal Reserve once again left interest rates at essentially zero percent Wednesday what it described as a "pick up" in economic activity.
Against the European currency, the US dollar edged higher during early deals on Thursday. The dollar reached a high of 1.4830 against the euro, compared to 1.4863 hit late New York Wednesday. The next upside target level for the US currency is seen around 1.468.
The US currency that closed Wednesday's North American session at 1.6556 against the British pound climbed to 1.6504. The pound-dollar pair is currently trading at 1.6515 with 1.640 seen as the next target level.
Against the Swiss franc, the greenback traded higher during today's early deals. the dollar-franc pair hit a high of 1.0187, compared to Wednesday's closing value of 1.0164. If the pair gains further, 1.003 is seen as the next target level for the pair.
Elsewhere, the dollar tumbled against the yen during this time period and hit as low as 90.39. On the downside, 89.9 is seen as the next target level for the dollar-yen pair. The pair closed Wednesday's New York deals at 90.74.
