The Japanese currency extended its weekly gains today on speculations that Japanese investors are bringing overseas investments capital back to the country to profit from a new tax law, making the yen to climb further in an already pessimistic scenario.

The Crude oil has been declining this week as uncertainties towards its demand have been rising on markets globally, Mexico, one of the biggest suppliers of oil to the United States, is witnessing a severe decline on its national currency as the demand for crude oil falters.

The dollar gained today versus most of the main traded currencies as concerns that industrial capacity in China will be curbed and a disappointing climb in U.S. durable good orders spurred demand for safety, which is currently favoring the greenback.

The pound posted another day of losses versus most of the 16 main traded currencies as the economic situation in Great Britain remains behind most of the other main global economies, decreasing attractiveness for the British currency.

After a rather mediocre start in the beginning of this week the euro had a positive performance today as German business sentiment rose again suggesting that the Eurozone member countries are finding its path out of recession.

The Canadian dollar declined from the highest level in 2 weeks today as commodities slid on renewed pessimism and a central bank official’s statement suggested that the current strong loonie may jeopardize the national economic growth.

The Polish currency touched today its highest level in seven months versus the euro after a retail sales national report suggested that the country may be finding its way out of recession.

The Japanese currency gained today in Asia versus the South Korean won and in Europe versus the pound and the euro as stocks had a negative performance today after 5 consecutive days winning on renewed optimism towards the global economic situation.

The U.K. currency posted losses today versus the euro and the greenback as stocks declined in the country and the Chinese Premier Wen Jiabao affirmed that the world economy is still facing a period of uncertainty, which brought risk aversion back in trading markets.

The Russian currency gained versus the U.S. dollar and several other currencies as the crude oil climbed again today, fueled by optimism regarding the world economic recovery.