The yen and dollar weakened after the Japanese and U.S. central banks pledged to keep interest rates near zero, boosting demand for stocks and higher-yielding currencies.

The Bank of Japan kept its key interest rate unchanged at 0.1% Wednesday by unanimous vote, as had been widely expected and also announced plans to double the scale of a lending program introduced in December.

Canada economy has already started to create jobs, more jobs than expected were created in February, led by full-time positions, while the jobless rate declined for a second month, pushing the Canadian dollar to its strongest level since July 2008, according to reports.

The U.S. economy continues to show progress in the manufacturing sector, where the New York empire manufacturing report came out to show further expansion in economic condition in the sector for the eight consecutive month.

Despite the economic growth and improvements that are seen in the releases of the U.S. Official data for weeks, the Federal Reserve is still expected to be holding interest rates near zero for an extended period.

When the euro was founded in 1999, it was obvious that its central weakness was the lack of control over budget deficits. The 16 nations that make up the Euro zone are seriously exploring the creation of a “European Monetary Fund,” a bailout fund that would help euro-member countries that can’t pay their debts.

After a month of bad news about housing starts, existing home sales, and mortgage delinquencies, the number of homes going into foreclosure is slowing rapidly, as reported by Wall Street.

Crude prices are likely to hold above $80 a barrel in the near term if Wednesday’s inventory data shows continued improvements in U.S. energy demand, said analysts at Credit Suisse in a note to clients.

For years most countries used the dollar as the major currency in its foreign currency reserves, but after the economic changes through the years countries started to shift their assets to more of diversified portfolios.

European markets have opened the week on a slight bid tone on a more positive climate affected by the two major factors that were driving the market through the previous months.