Daily currency report

Sterling saw a healthy improvement as buoyed by strengthening global equity markets, investors warmed to riskier assets. Sterling posted gains against most major currencies in particular reaching four-week highs against the euro. The dollar lost further ground as buoyant equity markets increased investors' appetite for risk. The euro recovered from the previous session's two-week low against the dollar as the rebound in Asian and European shares encouraged investors to take their money out of the greenback.

Sterling

The sterling gained, buoyed by strengthening global equity markets as investors warmed to riskier assets. Sterling achieved four -week highs against the euro while remaining well supported against the dollar.

US Dollar

The dollar lost ground as buoyant equity markets increased investors' appetite for risk. The greenback fell further against a range of counterparts after a US government report showed a third weekly reduction in the number of people collecting unemployment benefits, further boosting demand for higher yields.

Euro

The single currency recovered from the two-week low against the dollar as a rebound in Asian and European shares encouraged investors to take their money out of the greenback. Further pushing safe haven outflows was a eurozone economic sentiment survey that rose to a reading of 76.0 last month from a revised 73.2, its fourth monthly rise in succession.

Japanese Yen

The yen has weakened despite disappointing economic data which in recent months has seen safe inflows to the Japanese currency increase. The unemployment release showed Japan posting their highest jobless number in over six years.