Forex trends: dollar’s sliding versus European rivals, recovering against yen

Friday, greenback edged down from its early Asian session's new multi-day highs against euro and franc. Dollar also melted down versus the British pound. At the same time US dollar crept higher against the Japanese yen.

Against the European currency, the US dollar lost ground after hitting an 8-day high of 1.3931 during early Asian deals on Friday. Thus, at 12:30 am ET, dollar touched a low of 1.4001 euro, with 1.415 seen as the next resistance level. EUR/USD pair closed Thursday’s North American deals at the level of 1.4004

After the US currency soared to a 4-day high of 1.0890 against the Swiss franc during Friday's early Asian deals it weakened thereafter, slipping to 1.0855 at 12:30 am ET, with 1.076 seen as the next likely target. USD/CHF pair was worth 1.0847 at yesterday close. 

Cable slipped to 1.6392 at about 12:30 am ET, compared to 1.6396 hit late New York Thursday. On the downside, GBP/USD rally would find resistance around 1.660.

The greenback that closed Thursday's New York deals at 95.93 against the Japanese yen dropped to a low of 95.72 during early Asian trading on Friday. Thereafter, the dollar retreated and hit a high of 96.06. On the upside, 97.0 was expected as the next target level for USD/JPY rally.