Forex -

The US dollar fell to its lowest for the year last Friday, as higher oil prices, steady stock markets, and data showing an unexpectedly small contraction in the US economy boosted demand for risky assets and reduced demand for the safe currency. Government data showed US GDP shrank at a slower pace than expected in the second quarter. Gross domestic product, which measures total goods and services output within US borders, fell at a 1.0 percent annual rate in the second quarter. The International Monetary Fund in its annual report on the US economy said the recession seemed to be ending but cautioned recovery would be slow.

The euro was buoyed to its highest level in over a month by data showing German consumer confidence rose to its highest level in over a year going into August as easing inflation left shoppers more willing to spend.

The Australian dollar rallied after Australia's central bank governor said that interest rates may rise soon.