EUR/USD Performance Chart as at 3:30 a.m. Singapore time, 03/05/11

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HISTORICAL DETAILS 

% Change

1 Wk 1.82%

1 Month 4.99%

3 Months 8.86%

6 Months 6.37%

1 Year 12.46%

 

52 WEEK

High 1.4882

Low 1.1877

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.43

Q3 2011 1.39

Q4 2011 1.38

Q1 2011 1.35

 

DAILY DETAIL

The euro hit a 17-month high against the dollar today on bets eurozone interest rates will keep rising, while US stocks fizzled after investors concluded the death of Osama bin Laden does little to ease global economic and political risks. In early afternoon trading in New York, the euro is up 0.32% at $1.4847. [1] US stocks traded higher in the morning, and oil prices initially fell more than 3% as news of bin Laden's killing by US forces encouraged investors to take on risk. But the focus gradually shifted back to the state of the global economy as it became clear that the death of al Qaeda's leader would not lessen political risks in the Middle East and North Africa. While bin Laden's death poses as a longer-term positive, you can't blame some investors for wanting to take profits. And, in the end, it's monetary policy expectations which are the driving force for current dollar weakness. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Sources: [1] & [2] Reuters (02 May 2011), [3] Sydney Morning Herald (02 May 2011), [4] Wall Street Journal (02 May 2011). Chart data supplied by Bloomberg.