The US dollar and Japanese yen dropped on Wednesday, as enhanced risk appetite profited riskier assets such as the commodity dollars and stocks, with the DJIA and S&P 500 both finished the day up more than two %. Much of this was attributed to news that China is anticipated to reveal a 2nd stimulus package throughout Friday’s opening of the National People’s Congress, indicating that Chinese demand can hold up as much as necessary to maintain other international economies. In the meantime, the forex markets indicated little reaction to news that conditions in the US non-manufacturing division - which forms around 70 % of entire economic activity in the country and includes retail, services, and finance - deteriorated in February as the Institute for Supply Management (ISM) index dropped to 41.6 from 42.9.
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