(27-12-2007 7:30 GMT) The US dollar resumed the downside path against majors amongst speculations in Financial Markets regarding the upcoming step to be taken by the Feds on interest rates. Among those who proclaim a cut is needed to secure the economy's survival, while others see that the economic situation can sustain steady rates at this time providing time for inflationary pressures to ware off. Nevertheless one this we see clear is that risk appetite is creeping its way back into investors as the dollar trades around its highest in seven weeks against the Japanese Yen.

The European continent is still enjoying the holidays as they are back to markets today yet no key releases are scheduled for release today as they come back to absorb the sentiment and then become the movers and shakers of calm markets today. The 13 nation star is beaming again as it's heading steadily to the upside after setting the lowest in early hours today at 1.4468 it inclined breaching 1.45 level setting the highest in two weeks at 1.4515.

Sterling is still discarded, considered weak and fragile, though we can see signs of rebounding from the lows reached targeting the 2.00 levels once again. The range is tight still for the royal currency setting today the low at 1.9824 heading to the upside from that point setting the highest at 1.9887.

The Japanese yen as we know remains the most volatile currency as it is not much affected by economic conditions on ground as much as alteration in investors' sentiment. For that we still see the dollar holding strong against the battered currency, the pair trades among 114.00 levels as the yen weakens by Carry Trades driving the pair to the upside to record a high of 114.36 while the lowest for the pair was set at 114.11 until the hour of this report.