The euro continues dominating the currency markets, posting over a one per cent gain against the dollar. Elsewhere, comments from FED members regarding their outlook on future interest rate rises helped push the dollar to multi-week lows.

GBP
The sterling hit eight-month lows versus the euro but posted multi-week highs against the dollar. The move downward against the euro was not seen as too downbeat as the losses were small in comparison to the losses suffered by the greenback and the yen.

USD
The dollar was under heavy selling pressure after comments from FED board members. These comments have signalled that the end of the FED's rate hiking cycle could be near.

EUR
Again the euro was the favoured currency, posting gains against all the majors and reaching a seven-year high versus the yen. Eurozone unemployment and PPI figures add to the likelihood of an interest rate rise.

JPY
Although the yen hit seven-year lows it also gained on speculation that overseas investors will buy Japanese stocks amid accelerating domestic growth.