The Indian rupee weakened today on the speculation that the currency will continue its awful performance in the next year even as the nation’s central bank has taken steps to bolster the Indian currency.

The Canadian dollar advanced for the third day against the US currency and for the fourth straight session versus the euro and the Japanese yen as the signs of the economic recovery in the United States eased the pessimism caused by the problems in Europe.

Even with the disappointing GDP data coming out of the United States, there is still plenty that some Forex traders are excited about. The US dollar index is lower as risk appetite makes its appearance, and as the need for safe haven diminishes.

Japanese yen is lower today, heading lower as cautious optimism makes an appearance on the Forex market. Economic data in the United States came in better than expected, and that means the yen is not being used as a safe haven.

The Great Britain pound advanced today after the economic reports showed that the nation’s economy grew and the business investment expanded last quarter. The gains were limited as the trade balance and current account deficits widened.

The Swedish Krona gained today after touching the highest level in a week against the US dollar yesterday as the speculation that the US economy is recovering returned risk appetite to the Forex market to some degree.

The Swiss franc declined after the government signaled that it considers measures to further weaken the currency as its excessive strength continues to hurt the nation’s exporters.

The Canadian dollar advanced as prices for crude oil rallied and the report showed that the Canadian retail sales grew in October. The currency is under pressure as the positive sentiment disappeared from the Forex market.

Uncertainty about what’s next for the eurozone is prompting gains for the US dollar today, with the dollar index moving higher, heading for the 80 level. Concerns about the eurozone once again dominate, and the US dollar is moving higher as a result.

Today, for the first time, the European Central Bank began offering three-year loans as part of a plan to provide struggling countries with the funding to avoid collapsing due to the debt crisis. Even though the measure is supposed to help eurozone countries, the euro has slipped against other major currencies.