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Early morning Thursday trading sessions showed weakening of the US dollar against European, British and Swiss currencies. Declining, the dollar reached its almost two-week lowest against the pound of sterling. And the earlier session’s gains of dollar against the yen in the Asian market were pared.

Dow Jones closed at the level of p. 168.79, equal to 2.1%, while Nasdaq was closed at 2.3%, or p. 38.13, which means that Nasdaq closing was at the best level in about six months, while Dow Jones closed at a two-months highest level. The S&P was closed at the highest level in three months.

During morning trades on Thursday the yen continued loosing its positions against both the euro and the dollar, due to the governmental report regarding the decrease in Japanese industrial production by over 22% during the first quarter of 2009, comparing to the fourth quarter of 2008.

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The possibility of the interest rate growth by the European Central Bank in the next month caused the decline of the United States currency throughout the afternoon forex trades in Asia. It is expected that the European Central Bank will raise the interest rate after such intention was expressed by its president with intention to constrain the inflation.

The main point we should consider is that the Japanese yen turned to be quite strange throughout the trading session this day and has come to the end of trades at low positions in relation to the United States dollar and British pound but strong enough against the Euro, Australian and New-Zealand dollars. As for the inflation level in Japan we have to mention that it increased to 1.2 percent throughout the previous month.