The JPY and USD have weakened marginally in fairly subdued Asian overnight trade, the holiday in Japan limiting activity. Risk sentiment has improved slightly, with those Asian stockmarkets that were open posting gains.
EUR/USD is presently at 1.3195 having closed in North America Tuesday around 1.3150, while EUR/JPY has advanced to 127.70 from around 126.75.
The release of improved US economic data Tuesday (consumer confidence, Richmond Fed survey and home price index) has helped bolster sentiment.
There are also reports that the death rate so far from the swine flu outbreak maybe less than originally feared. Jose Angel Cordova Mexico’s Health Minister has admitted many of the deaths mentioned have not been definitively attributed to the swine flu virus, while a WHO spokeswoman has said that the organisation has so far confirmed only 7 deaths, all in Mexico.
Elsewhere Citibank have issued a bullish EUR/USD analysis, which has served to give the euro a marginaL fillip.
