The USD remained under broad-based selling pressure, with new trend highs seen for the GBP, AUD, NZD and CAD. GBP/USD traded to the highest levels since November 3 2008 at 1.6245 with Kiwi at 0.6432 and the highest since October 6. AUD/USD traded to 0.8065 and the highest since Sept 30 and USD/CAD fell to 1.0867 and the lowest since October 6. EUR/USD though firm, was unable to rise above Friday’s highs of 1.4169, stalling at 1.4165 and weighed down by broad selling of the EUR on crosses. Commodity currencies were bolstered by yet a fresh surge in commodities after the outperformance in that sector in May with Nymex crude rising above $67 and gold benefiting from the weaker USD to reach a three month high. Treasury’s Geithner reiterated the strong USD mantra which helped stall the USD fall, and telling China that its dollar investments were safe. The long-awaited GM bankruptcy was announced by Obama administration officials but DJIA futures rose 48 pts, with Asian stocks all broadly higher. China’s PMI was above 50 again, reflecting an expansion, also helping to support the commodity performance and regional stock market gains.