Asian market Euro is raising both against the dollar and the yen

On Wednesday Asian market Euro is raising both against the dollar and the yen, as officials made hints that low interest rates may soon end in the European zone.

And though the euro is usually sold out, when finance markets are under stress, this time it stood in recent ranges because of the still remaining flu concerns. The recent reports show more cases of suspected swine flu in both New Zealand and South Korea.

Around evening time GMT today interest rates reports of the American Federal Reserve are to be announced together with the release of the American economic growth information for the first quarter. As it was polled by the Dow Jones newswire, it is expected that the gross domestic product of the US in the first quarter will show a decrease of 4.6%.

On late Tuesday dollar lowered against many major currencies, except for yen. The European Central Bank is likely to be the most important factor, influencing the euro versus dollar rates.

The benchmark rate for the European countries now is at the level of 1.25%, while it is expected that on May 7th meeting of Central Bank of Europe, it might be lowered to 1%. Therefore, it is likely that the dollar will stay within its positions, while the ECB is deciding about its policies.