Forex: Tuesday’s review

The euro hit a four-month low against the dollar, amid contradictory statements of officials on the eurozone rescue program of Cyprus and its possible extension to other troubled economies in the region. Note that the largest Bank of Cyprus and Laiki will be closed until Thursday. In addition, it was reported that Bank of Cyprus will go through restructuring, and Laiki will be closed, and its healthy assets will be transferred to a competitor. The European Central Bank on Monday pledged to provide liquidity Cypriot banks have accumulated 68 billion euros of deposits. Without this measure, banks face immediate bankruptcy because of the expected mass withdrawals from the accounts.

Meanwhile, many investors are worried that the euro zone officials will continue to rescue troubled banks by depositors, as happened in Cyprus. Pressure on the euro was words of the chairman of Eurogroup Yerona Disselbluma that the plan of salvation of Cyprus a model for combating banking crises in the future. Disselblum also said that uninsured deposits should contribute to the salvation of Cyprus. ECB Kéré Disselblyumu said  that he did not agree with him and agreed on Cyprus is not a new model for Europe, adding that there is no reason to think that the French banks, the same problem as that of Cyprus. He also noted that the Cyprus problem only shows that the ECB should be independent supervisory body for banks in Europe.

Japan's currency fell against most of its 16 major counterparts, helped by comments Governor of the Bank of Japan Kuroda, who noted that the close cooperation between the government and the Bank of Japan will help to "smoothly" to achieve 2% inflation. Meanwhile, he added that the task of government - to stimulate economic growth, employment in the medium and long term. At the same time, he said that the price trends are influenced by various factors, such as fiscal policy of the government, the promotion of growth. In addition, he said the government would try to reach a level of 2% inflation for two years at any cost

The pound fell to balance report sales CBI Britain. Research trends CBI distributive trade in Britain reflected the drop in sales to 0 in the March 8 against the previous forecast of 11. However, expectations in April rose from 8% to 15% (with a maximum of December). Meanwhile, market sentiment influenced British Finance Minister comments Osborne, who made it clear that salvation holders of insured deposits in Cyprus - is a bad idea. He also noted that the final plan should not include saving the owners of insured deposits. In addition, he believes that the salvation of Cyprus was not well thought out, and it will leave Cyprus with sustainable debt. Osborne added that Cyprus is experiencing a sharp decline in GDP, and for all it would be better if the euro zone more quickly solved their problems.