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On Tuesday morning US trading both the dollar and the pound of sterling reversed its losses. The euro was able to hit $1.3063, but at the same time it reached its lowest in seven weeks against the Japanese Yen, selling at Y124.38.

The pound of sterling hit its highs versus the American dollar, trading at $1.4685. The pound was supported by the government report of sales volumes of British retailers, which in April jumped for the first time since January 2008 to unexpectedly high level.

The American dollar and the Japanese Yen are much higher on the risk aversions related with the swine flu disease, while the concerns are growing regarding the possible impact of the swine flu spreading on the world economy, as well as economies of certain countries, who are the most affected by the flu (Mexico is on top of the list, as the outbreak of the disease happened in the country and over 80 people are already dead, followed by New Zealand and possibly Australia).

As for April 27th, the Japanese Yen and the Swiss franc are considered safe-haven currencies, which will most likely be on the rise. The riskier dollar currencies, like the New Zealand and Australian dollar are already falling and will keep falling all day.

Some experts think that for this week Germany will cause some weakening of the Euro, as it has been reported over the weekend, that the country’s system of banking owns over 1 trillion of USD worth of risky assets.