The Bank of England kept its interest rate unchanged.
Asian and European trading sessions:
Euro: After the EUR / USD pair had corrected to the level of $1.2967 on the Asian session, the new sellers came in and pushed down the couple back to towards the lows of previous day bellow the $1.2930 area. The Euro is still under pressure due to the fact that the Greek authorities are not the able to form a coalition. The rest of the day the pair traded in a range of $ 1.2924- $1.2979.
U.S. Dollar: The dollar fell against most major currencies amid falling demand for safe haven currencies. The Dollar index tested the level of 80.10 many times during the sessions.
British Pound: The GBP / USD pair couple was traded in the narrow range of $ 1.6120-50 in the Asian session. The pound was in focus today due to the meeting of the Committee on Monetary Policy Bank of England regarding the interest rate in the country. Accordingly to the announcement of the Bank of England the interest rate was kept unchanged at the rate of 0.50% and the quantitative easing program of asset purchasing remained at the same level of 325 billion pounds. The GBP / USD pair showed some weakness moving firstly to the lows of $ 1.6090 but then big strength growing in the area of ??$ 1.6177 in a 1 hour time period.
Japanese Yen: After a board member of the Bank of Japan Mr. Sayuri Shirai noticed in his speech that the Central Bank must carefully monitor the exchange rates the yen weakened against the major traded currencies. The USD / JPY couple after trading in the range of Y79.59- Y79.76 moved to the highs of Y79, 98.
Australian dollar: The unemployment rate in Australia unexpectedly declined in April to the 12- month low and recorded 4.9 % against 5.2% the previous month and forecasted 5.3 % as it was reported by the Bureau of Statistics today in Sydney. This is the lowest rate since December 2008.As the result, the Australian dollar rose on these positive news. The increase on the 15,500 in the number of new work positions created had also a positive impact on the Australian currency trading dynamics. The big disappointment though for the currency was the report on China's export which showed that the volume of exports to the country in April grew by only 4.9%, with forecasted growth of 9.1 %.
American trading session:
Gold: The price of gold continued to decline in early today on fears of investors for the aggravation of the debt crisis in the euro area. The cost of the June gold futures on the COMEX fell today to $ 1584.0 per troy ounce yet was able to rose to $ 1603.2 The weak physical demand for the precious metal despite the decrease in the value of precious metals was pressuring the gold prices today as well.
Oil: Oil rose to $ 97.69 for the first time in seven days. The report on amount of people unemployed in US showed some decrease and added optimism to investors in the hope that the demand in the world's largest consumer of raw materials will increase. The cost of the June WTI on the NYMEX today fell back to lows of yesterday by the end of the session to the level of $ 96.45 per barrel.
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