Dollar Rises to 6-Week High Versus Euro on Signs of U.S. Economic Growth

(Bloomberg) -- The dollar reached the strongest
level in six weeks against the euro and a three-month high
versus the yen as reports suggested the U.S. economy is
gaining momentum.

The U.S. currency gained a fourth straight week
against the euro, rebounding by more than 2 cents from its
record low set a month ago, as traders cut bets the Federal
Reserve will reduce interest rates. Reports showed a third
consecutive month of gains in durable goods orders and the
biggest jump in new home sales in 14 years in April.


Read more at Bloomberg Currencies News

RBS consortium set for ABN bid on Tuesday

(Reuters) - A trio of banks led by Royal Bank of Scotland will likely make a formal takeover offer for Dutch bank ABN AMRO on Tuesday, sources familiar with the matter said on Friday.

RBS, Fortis and Santander, who will provide an update on their plans to bid for ABN on Tuesday, currently view launching an offer as their preferred option, the sources said.


Read more at Reuters Africa

Polish Zloty Drops for Third Straight Week as Investors Turn Risk Averse

(Bloomberg) -- The Polish zloty fell for a third week
against the euro as investors turned more risk averse on concerns
about the pace of a rally in China's stocks and political tensions
with the army in Turkey.

The zloty was the sixth worst-performer against the euro of
71 currencies monitored by Bloomberg in the past five days.
Investor sentiment toward emerging markets also soured after
Federal Reserve Chairman Alan Greenspan said on May 23 that
Chinese equities might undergo a ``dramatic contraction.''


Read more at Bloomberg Currencies News