On Friday the Yen decreased its level against both the dollar and the euro, as market traders came to a conclusion that the worst recession in the global economy is coming to an end, which increased traders’ appetites for more risky assets.
The euro and dollars from Australia were in favor today, pushing backwards other currencies, like the American dollar and the yen. Australian dollar is one of the predictable risk-sensitive currencies, the rate of which is rapidly increasing every time when risk aversion stops. It was caused by the economic data reveled by the Federal Reserve of the US, showing possible slow down of the world recession and indicating optimism among consumers and companies.
Unemployment numbers from the United States, which were made public on Thursday also added optimism to the market situation. China also showed signs of recovery in April.
During morning American trades the euro increased by 1.2% versus the yen, and the dollar increased by 0.7% against the yen, reaching its two-week high. In Euro – US dollar pair, euro increased by 0.4% versus the dollar.
The Australian dollar grew by 0.7% against the dollar, 1.4% against the yen. Canadian dollar improved against the US dollar by 0.4%.