Greenback Weakens Against European Majors

Zurich-Switzerland (Nov 29)  The US dollar edged lower against the major currencies of Europe in early London session on Thursday.

The greenback slipped back to below the 1.36 level against the euro for the second consecutive day, falling as low as 1.3610, just a couple of pips away from yesterday's 4-week low of 1.3612. The near-term support for the US currency is seen around the 1.3650 area.

The dollar dropped to 1.6346 against the pound, a level not seen since January 05. The next likely support for the greenback is seen around the 1.64 level, the trend-line resistance of the cable in weekly time-frame.

The US currency also declined to 0.9054 against the Swiss franc, down from a session's high of 0.9087. The next probable support for the greenback-franc pair is seen around the 0.9040 area.