Forex Updates- USD Gains Biggest in 2 Months

The USD placed the largest weekly gain against the Euro over 2 months on the optimism the worst of the crisis is over in the U.S and in the Forex market as well.

In these recessionary times any rise in fortunes of a company is a welcome sight. The showing of Wells Fargo & Co.’s has exceeded all expectations and has led to the highest single day gain in the Standard & Poor’s 500 Banks Index.According to the recent Forex updates these conclusions were drawn by The USD Index which keeps an eye on the fortunes of the USD against the currencies of its trading partner. Since January, the Euro falls the most against the Yen on concerned the (ECB) European Central Bank will cut its standard interest rate to below 1% to stimulus growth.

This week the USD rose 2.3% to $1.3143 per Euro, the leading gain since the 5 days through January. Yesterday, it touched $1.3090, the strongest stage since March. The greenback increased 1.1% to $1.4672 per pound and higher 0.6% to 1,333 South Korean gained.