Overview of the previous session



The U.S. dollar against the euro and its lowest level in a week against a basket of currencies. Dollar needs to alleviate the extremely risk-averse.

Last Friday, the euro against the U.S. dollar continued to rise significantly after the beginning of Thursday published a better-than-expected release of the euro zone PMI. The impact of stock market data on the U.S. economy against the U.S. dollar against the euro, trading is very limited. The euro against the U.S. dollar compared to close USD1.3242 meeting, USD1.3144 Thursday.

British pound fell to a two-week low against the dollar, the euro held steady against the dollar, as data showed the British economy declines, the first quarter is the fastest in 30 years later, wondering if the Government's economic prospects

Japanese yen against the dollar in the news, the diversification of China's foreign exchange reserves. Most of the mixed or across to the new rise, due to increased risk. GBPJPY under pressure after the first quarter GDP results.

And fears of a global outbreak of swine flu, which could significantly undermine the global trade, the Australian dollar cut earlier gains in late Asian trade on Monday. Australian dollar against the U.S. dollar is USD0.7124, unchanged from last Friday. Exchange rate from the intraday high but higher than USD0.7239 low USD0.7102. U.S. dollar against the yen, which is JPY68.875, below JPY69.17.

Market expectations



Japanese Yen and the Swiss franc - the currency as a hedge - are on the rise. High-yielding, but riskier currencies, such as the Australian and New Zealand dollar is falling.

Also from a number of risk aversion in the German media reports over the weekend said that the country's financial system is exposed to toxic or more than 100 trillion high-risk assets.

The market will continue to pay attention to economic data.

Against the U.S. dollar and the euro and the yen Monday and the potential impact of swine flu control risks.

About the current exchange rate pounds USD1.4550. Bid that it will continue around the USD1.4535/30, a more advanced level USD1.4510/00 relations, strong USD1.4485/80 (USD1.4486 76.4% USD1.4397/1.4774). Breakthrough and significantly lower than here to open a deeper USD1.4450/40. Resistance is now seen on the back to break the support USD1.4580/85, a breakthrough, open to USD1.4620/30.

The euro remained under pressure in early Europe, the base expanded to USD1.3140 in writing, and the rest of the pressure. Support position, USD1.3135, with more interest from around the USD1.3113 to USD1.3100. Resistance - USD1.3180, the relationship between USD1.3200/10 ahead of more USD1.3230.

At present, market participants are closely monitoring the developments in the United States of any bank's stress tests, and announced the results of the Group of Seven finance ministers meeting in Washington, they discussed the global economic crisis.