FXstreet.com (Buenos Aires) - With dollar lower past Friday against most rivals except for Japanese Yen, early trading opened quiet with Euro around 1.3260, Gbp above 1.4900 and Japanese Yen quoting at 99.30. Risk appetite persisted despite light trading because of bank holiday in several key European countries, and will probably extend during next journeys. Japanese Yen is set to lose ground under these conditions, with global stocks markets rallying, and turn investor's intentions in the currency, from safe-haven to carry trade.
Meanwhile the FED has decided to delay the results of the bank stress test to next Thursday May 7th, the same day ECB will reveal their last decision about monetary policy. Not only market is expecting a deep rate cut, but also the announcement of non standard measures. ECB President, Jean Claude Trichet, has called the other members to silent past Friday, to avoid further speculation from markets.
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