Canadian dollar is higher as commodities see a sharp jump in prices. The latest ISM data in the United States is helping matters, especially for the loonie, but the manufacturing expansion in China and Australia is also helping quite a bit.

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Euro is higher today, gaining even though banks are still making high demands on the ECB’s marginal lending facility. A total of 14.8 billion euros were borrowed on Monday night. This wasn’t as much as borrowed last Thursday night, but it indicates that banks are still demanding emergency money from the ECB. Even so, the euro is higher today against most other major currencies.

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The Australian dollar jumped today as Asian stocks advanced and nation’s manufacturing expanded, increasing attractiveness of Australia’s currency.(...)
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The US dollar dropped today as expanding manufacturing in the United States and China damped demand for the greenback as a safe haven. The dollar reached the lowest level in more than a month against the yen.(...)
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Aussie is trading rangebound today, for the most part, with low volumes. Right now, Aussie is seeing some support from an improvement in gold prices, but other uncertainties have currencies floundering, looking for direction.

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Japanese yen continues to gain in Forex trading. Indeed, yen closed out 2011 at highs not seen for years — and not seen for a decade in the case of the euro. Japanese yen is in demand as continued global uncertainty sends traders looking for safe haven.

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