Pound plummets heavily in markets
![]( "Pound plummets heavily in markets")
U.S. markets closed today due to the Thanksgiving Holiday, despite the lack of economic data in the U.S. economy, we see that markets are calm while The Dollar Index, which usually measures strength of the dollar versus six major currencies, is currently climbing as it trades at 75.54 while recording a high of 74.68 and a low of 74.16.
The euro zone today released its M3 money supply showing that they declined on the year and on the month meant that liquidity remains weak in the nation. The EUR/USD is being traded 1.5086 above the support of 1.5032 and below the resistance of 1.5142. The pair recorded a high of 1.5141 and a low of 1.5052.
The pound lost massive grounds in markets due to the major government-owned investment company in Dubai, wanting to postpone paying debt worth $3.5 billion next month holding liabilities worth $59 billion, since the Borse Dubai Ltd. is the biggest shareholder of the London Stock Exchange Group Plc.; caused investors to panic in markets as they frantically sold the pound versus the dollar. The GBP/USD is being traded at 1.6568 between the support of 1.6528 and the resistance of 1.6605, while recording a high of 1.6724 and a low of 1.6499.
The yen climbed in markets versus the dollar on anticipations that Japanese monetary officials will put up with a rising yen. This increased the appeal of the yen in markets, causing the USD/JPY to resume its decline, where it currently trades at 86.76 while recording a high of 87.47 and a low of 86.28. For the pair, we see a support at 86.29 and a resistance at 87.51.