The dollar is still weak against the euro as investors felt more comfortable buying riskier assets after stocks came off lows and commodities like gold & oil jumped sharply. On the other side of the coin, Dollar losses versus the Japanese currency yen were partly triggered by data which showed US gross domestic product growth was slower than previously expected in the first quarter.Dean Popplewell, chief currency strategist at OANDA in Toronto said: "There’s some tentative risk appetite in the market as we see stocks rallying and commodities up sharply. Fundamentally, there is no reason for the euro to rise given the euro zone debt crisis."
The euro rose 0.5 percent against the dollar to $1.2387. The dollar, however, fell 0.3 percent against the yen to 89.24.
After todays NFP results the dollar is horrible and the euro is really recovering well… curently trading at around 1.26.
Everyone who says the Euro will drop to Par value should really rethink that… after all the horrific news about the Euro its currently at a new high for the past couple of months.