The euro traded near a seven-week high against the dollar this morning as optimism the global recession is easing spurred demand for higher-yielding assets.
Europe’s single currency gained for a third day versus the British pound before a Chinese report tomorrow that may show exports fell the least in four months, adding to signs the world economy is reviving from its worst slump in half a century.
The euro traded at $1.3634 against the dollar as of 6.19am in London, from $1.3634 in New York last week.
It earlier reached $1.3668, the strongest level since March 24th. The US currency was at 98.48 yen from 98.47 yen. The euro was little changed at 134.26 yen from 134.23 yen.
The euro fell to 89.59 pence from 89.51 pence.
The won rose 0.9 percent to 1,235.90 per dollar, after touching 1,225.97, the strongest level since October 15th.
The VIX, a gauge of investor risk-aversion, declined 4.2 per cent to 32.05 on May 8th and touched 31.19, the lowest since September 22nd.
The MSCI World Index rose 0.5 per cent today, extending nine straight weeks of gains. The MSCI Asia Pacific index of regional shares advanced 0.8 per cent.
Bloomberg