FX round-up: Spanish talks revive euro

Date: Friday 01 Jun 2012

The euro rebounded from what was almost a two-year low against the dollar on Thursday, paring the morning's losses following reports that the International Monetary Fund is considering a possible bailout package for Spain's troubled economy.

Late Thursday evening the single currency bought $1.2369, down just 0.03% from the previous evening. It traded as high as $1.24 earlier in the session.

The ICE dollar index, which measures the greenback against a basket of six currencies, dipped to 83.035 from 83.053 late Wednesday.

The dollar has risen by around 5.0% during May to its highest level since September last year.

Meanwhile, the pound fell against the dollar, declining from $1.5488 late Wednesday to $1.5416 last night.

The Japanese yen also took a hit, falling slightly from ¥79.09 to ¥78.34.

The pound also traded lower against the euro at €1.2465 last night, compared to €1.2518 the day before.

NR

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