US Dollar Slips From Early Uptrend Against European Majors

During New York afternoon trading on Wednesday, the US currency edge down against most major European currencies from previous session's upward trading.

After hitting new multi-week highs of 1.3109 against the euro and 0.9185 versus the Swiss franc at around 9:05 am ET, the greenback reversed its direction in today's mid-day deals. The greenback is currently trading near 0.9162 against the franc and 1.3143 versus the euro.

Against its British counterpart, the US currency also showed weakness in New York afternoon session from early morning session's new multi-day high of 1.5836. At present, the dollar is trading near 1.5890 versus the sterling.

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Support and resistance levels

Jun 1 at 7:20 UTC