The U.S. dollar continued a series of declines against major currencies today after the decline witnessed last week. This comes in conjunction with the improvement of the service sector data in China, which reduced demand for the dollar in favor of other currencies with improved investors' appetite for risk.
The dollar fell against the euro for the second straight session today, which reported a euro / dollar low at 1.326, after hitting its highest level at 1.3280, while the pair started today's session at 1.3276. Moreover, it came PMI services in China worth 54.1 in July compared with the previous reading of 53.9, which helps to improve the outlook for the services sector.
Demand for the yen significantly during today's Asian session, and after China data, as investors began to buy the yen and the dollar to avoid. dollar / yen was low of 98.78 after recording the highest level at 99.14, while the pair started today's session at 98.92.
The pound has fallen against the yen for the second straight session, its lowest of 150.93 high at 151.15, and the pair began today's session at 151.04.