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At the beginning of the last session of the week, Asian markets were higher. One of the reasons for this situation is the announcement of Chrysler bankruptcy last evening.

During morning Asian trades on Friday, May 1st, both dollar and euro increased versus the yen, as it turned out that swine flu fears of the foreign exchange market are in reality not as bad, as were expected.

Many dealers claim that rising level of the American currency will not last long, because many coming up events, that are due to happen in the United States and in Europe will make many investors sell both the greenback and the euro again.

Dollar hits its low against the Yen, the Euro and many other currencies on Friday, as numerous hopeful signals appear in the world, showing possible slowdown in the pace of decline of world economy.

Positive data reports gave support and strengthened both Euro and the Yen. As a result of recent surveys done by the Ifo Institute in Germany, which indicated that after a long-term low in March, business confidence started it’s improvement at the beginning of the second quarter.