Dollar Weakens against Sterling

Dollar Weakens against Sterling, Aussie, Kiwi and Loonie

Dollar continues to weaken against Sterling and commodity currencies including Aussie, Kiwi and Loonie today on the back on investors' optimism. Japanese Nikkei closed 127 pts high following 196 pts rally in DOW overnight. A survey from National Association for Business Economics survey showed that economists expect US growth to turn positive in second half of this year with pace of job losses narrowing sharply this year. Employment is expected to turn up in early 2010 after unemployment rate hits 9.8% by year end.