On Wednesday dollar went down against all major currencies, besides yen, as the risk aversion eased, as the economic data from the United States was much stronger than it was expected, which moved backwards concerns about the US banking sector and the spreading of swine flu.
The growth figures of the first quarter are about to be announced, so there are still some worries remaining about the impact of this information on the market. The United States Federal Reserve also has to announce its future policy today.
Increased consumer confidence and home prices led the dollar rates to an increasing level, as well as positive results of corporate earnings, indicating some signs of economic stabilization.
As for Wednesday noon, the market was ignoring the swine flu situation, and following other market trends in the changes of currency rates. The market is waiting for two officials of the Central Bank of Europe, Juergen Stark and Axel Weber, to speak at two different events later today.
Tokyo trading session was comparatively inactive due to the local holiday and day off for the Tokyo, and many Asian market participants are expected to not take part in the market trading until the next Wednesday, when the holidays are over.