Major tendencies of the day:
Yen is strengthening against all major currencies, including the US dollar due to slump in American economy.
Euro fell against both the dollar and the yen, reaching its one-week lowest, due to speculations of the fact the interest rates will be lowered by the Central Bank of Europe.
One of the reasons why Japanese Yen rose versus the dollar is because Lawrence Summers informed that the American economy will keep the shrinkage. The Yen also strengthened against all other major currencies, as it is well-isolated from the spreading of the swine flu.
Due to speculations made by the Central European Bank, promising to lower the interest rates, Euro fell at the beginning of the week, as the European banks are going to try to keep the costs of borrowing as low as possible.
Pound of sterling also fell on Friday versus the Euro, when it turned out that the British economy was not increasing in the first quarter of 2009, but falling instead: gross domestic product fell by 4.1% year-on-year.
Dollars of Australia and New Zealand are also weakening due to the spreading process of swine flu, which has already hit Mexico significantly, killing over 100 people over the weekend.