American focus : the euro rose

The euro edged higher against the U.S. dollar on a background of comments Janet Yellen . Fed Chairman Yellen , who spoke today at a conference in Chicago, defended the loose monetary policy of the USA , stating that its purpose was to help the economy and the labor market in particular.

Yellen noted that the Fed's commitment to promotion policies is still a necessity, and this situation will continue for some time . She also pointed to the fact that low interest rates will remain low for an extended period of time.

The Fed chief has listed a large number of part-time workers , slow wage growth , a large number of workers who do not have full employment , fall in the share of the working population as indicators that the labor market is still in a difficult situation . She also noted that for some Americans the current economic situation was more complicated than in a recession .

Earlier pressure on euro was weak data on inflation in the eurozone, but the comments of the ECB representative Nowotny able to offset this negative.

As it became known , the annual inflation rate in the euro zone fell again in March , beating the average forecast with experts and reaching its lowest level since late 2009. According to a report in the March consumer price index rose by 0.5 % from March 2013 , compared with a gain of 0.7 % a month earlier and rated at 0.6 . Add index more and more away from the target of the European Central Bank , which is set at "a little less than 2% ." The data also showed that the cost of energy in the eurozone fell in March by 2.1 % after declining 2.3% in February. Food, alcohol and tobacco products rose by 1 % after rising 1.5 % the previous month . Core CPI , which excludes vollatilnye elements - such as energy and food - growth slowed to 0.8% from 1.0% in February.

With regard to the Novotny , he said that the recession in the euro area came to an end , and the economic situation in the region has significantly improved , but he still has to deal with their problems . Nowotny , who also heads the Austrian Central Bank , says that in 2014 the Austrian budget deficit will exceed 3 %, but next year will fall below 2%. He noted , however, that it is not a structural deficit.

The yen declined significantly against the U.S. dollar . Recent comments on the Bank of Japan that it was too early to discuss specific exit strategy from quantitative easing weighed on the yen. Now, there are several factors that can support the growth of the pair this week : first, the U.S. was to publish a number of reports that may indicate the recovery of the U.S. economy. This will increase the rate differential gap between the U.S. and Japan , respectively, and press on the yen , and secondly , the global risk sentiment remains unstable, as the conflict between Russia and Ukraine is still a threat to global geopolitics .

Franc rose against the dollar , despite the weak data . The growth was due to the weakening of the U.S. currency , as well as the head of the SNB Jordan comments . He said the Swiss franc is still high, and the minimum level for the pair EUR / CHF - an essential tool for maintaining price stability. Meanwhile, he added that the current exchange rate policy will remain relevant for the Swiss National Bank in the foreseeable future , but do not rule out negative interest rates to maintain proper monetary conditions .