The dominant risk aversion gets boosted today particularly against Euro, after a rating agency warned the exposure of Western European banks to Eastern European loans could affect their credit ratings, spreading fears of contagion to all the euro zone. In this scenario, Euro reached as low as 1.2561, very close to past December's low. Within the Euro zone, banks in Austria, Ireland, Germany, Italy, France, Belgium and Sweden could be affected by the Eastern banks situation, pointing for more selling in the hegemonic currency for the next days.

So far dollar has benefited more than the other traditional safe haven currency Japanese Yen; the surprise resign of Japanese Finance Minister (that presented to the G7 press conference in a non-presentable state) plus the economy contraction known yesterday, are keeping the yen in slow upgrading ranges.