The euro recorded impressive gains against the dollar.The European currency gained 130 pips against the dollar during the day on Wednesday. The pair closed at 1.3322. On the other hand, the EUR/JPY pair won 210 pips reaching the 129.90, while demand for refuge currencies fell, above all, moreover, because certain Japanese indicators showed that the economy improved during the month of April. Against the pound, the euro, also advanced, and ended up gaining 15 points closing at 0.8980. today it will be released the English Nationwide HPI at 6: 00 GMT, and in the Euro area, the unemployment rate will be published at 21: 00 GMT. Without a doubt these results will determine the trend of the euro and the pound throughout the day.
Moreover, it would be advisable to follow closely the speech of President Barack Obama and the Fed, given that an estimated volatility before such pronouncements. JPY the yen reverses while the economy Japan shows signs of improvement yesterday, the yen lost ground against most currencies, given that the economic situation in the second largest economy in the world seems to be improving. The yen fell 60 pips reaching the 97.54 yen per dollar. The demand for coins shelter suffered a blow yesterday, since apparently Japan and the United States show signs that the worst of the crisis already happened. The yen also lost ground against the euro, falling 210 pips and closed at 129.90. The pound also took points, given that the optimism of the U.S. stock market dragged to Europe, and the demand for Yen was reduced accordingly.Yesterday the Japanese market reopened after the holiday.
The downward trend of the yen was due in part to the result of industrial production, given that said indicator showed a recovery after 6 months. This phenomenon occurred several investors to invest in higher risk assets. Today, Household Spending and unemployment rate, will undoubtedly affect the trend of the yen.