FOREX: Thursday's review

US dollar declined versus “save haven” currencies frank and yen. The dollar is still under from pressure from ongoing concerns about slowdown in the U.S. and EU economies. Another pressure are speculations that the Fed may would provide more stimulus if needed.
The franc bounced back against the dollar after a day before the currency fell following the Swiss National Bank cut interest rates from 0.25% to near zero.

The yen weakened after Japan sold its currency in the foreign- exchange market for the first time since March to stem gains that threaten the nation’s economic recovery. Japanese Finance Minister Yoshihiko Noda said intervention was one-side.
The Bank of Japan expanded its asset-purchase fund to 15 trillion yen ($189 billion) from 10 trillion yen, according to a statement. Policy makers also kept the benchmark interest rate near zero. They ended their meeting a day earlier than scheduled on request of the government.

The euro shed versus the dollar after ECB President Jean-Claude Trichet acknowledged a “particularly high” level of uncertainty and said inflation expectations “must remain firmly anchored.”

He said the ECB will offer banks additional cash as the region’s debt crisis spreads increasing pressure on policy makers to resume bond purchases.
The Canadian currency fell to the lowest level over 5 weeks amid declining crude oil prices, Canada’s biggest export.