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The United States currency decreased a bit in relation to major currencies throughout morning forex trades in Sydney. This was the consequence of the USD decrease in relation to the yen that turned to be the largest one for the last after the possibility of the credit crisis rebounded. Decrease of the credit ratings of Merrill Lynch, Morgan Stanley and Lehman Brothers contributed to the purchase of the safe haven and lead to the significant growth of the Japanese Yen and Swiss franc. The USD was traded at 104.38 yen and the Euro gained to $1.5541.

The euro slipped on Friday, relinquishing early gains to hit a two-week low against the dollar after surprisingly weak German retail sales figures added to the view that the euro zone economy may be weakening.

German retail sales unexpectedly fell for the second month in a row in April, suggesting cracks in the region's economy which until now had been resilient to a global slowdown even as inflationary pressures increase.

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The United States currency remained at quite high positions in relation to other currencies throughout the morning Forex trades in Sydney as investors considered the duration of the USD being strong. So the USD was traded at 104.74 yen and the Euro – at $1.5654. The gains of the USD were caused by the positive data provided by the durable goods orders report for the April. As for the new orders for the goods related to durable ones decreased only 0.5 percent throughout the April thus showing the outlook for the 1 percent decline was the wrong one.

The dollar rallied on Thursday, rising to a three-month high against the yen, on data showing the U.S. economy grew in the first quarter faster than previously estimated and as hawkish Federal Reserve comments boosted expectations for an interest rate increase this year.

Dallas Fed President Richard Fisher said on Wednesday the the Fed -- the U.S. central bank -- could increase benchmark rates "sooner rather than later" if inflation expectations worsen. The comments prompted a jump in short-dated U.S. Treasury yields on Thursday.

The United States dollar experienced some growth at the afternoon forex trades in London after the changes in oil prices and quite high US data issued. The fall of the oil prices doesn’t eliminate the inflation but now the danger the market facing is not do sharp. Let’s consider the current situation, the oil prices reached the point over $135 last week and then decreased below the $130. The European governments are under pressure of the demonstrations concerning high oil prices that make the French President to request the decrease of the Europe’s VAT on oil.

The morning forex trades in Sydney resulted in strengthening the United States currency in relation to other currencies. The USD maintained the gains it has reached throughout the night after the opinion that it will be oversold this month appeared. Moreover such factors as the growth of the crude oil prices and announcements made by the San Francisco Federal Reserve Bank Chairman Janet Yellen also contributed to the growth of the USD.

The IFO survey issued recently caused the sharp growth of the Euro in relation to the USD. The business climate index provided in the IFO survey experienced a growth reaching 103.5 point instead of 101.9 predicted by the experts. Such trend reflects the situation at the German Business market that seems to be quite stable at the moment. According to the Capital Economics official Jennifer McKeown the growth of the IFO did not compensated the previous month decrease in full but it improved anyway.

This Tuesday the United States dollar reached the lowest point in relation to the Euro. Since then the USD keeps silence making traders doubt whether it has already reached the bottom or there will be further fall of the US dollar. As the point of 1.60 is not reached yet we may suppose that there is no more need in growing Euro at the moment, besides the news from the markets and announcements of the officials now turn to be positive for the United States dollar not Euro.

The United States dollar reached another low point it has never experienced before and the oil prices came closer to the price of $120 a barrel. The matter is that it is quite difficult to determine the initial reason of all changes when considering the US dollar and oil prices as low dollar leads to the growth of the oil prices and the oil prices affect the country economy. We cannot state with 100% confidence that high oil prices are caused by high inflation level as the situation is quite complicated and the Federal Reserve cannot afford interest rates hike to restrain the inflation.