Another sign that the US economy is getting closer to recovery is the May index, which reported a 1.2% increase. In April of this year, the index was revised from a 1% increase to a 1.1% rise. Both months indicate that the recession is losing headway and that market volatility is slowing.

There were many factors that contributed to the increase in the May index including interest-rate spread, real money supply, stock prices consumer expectations.

Higher than expected index results have the US dollar exchange rate at GBP0.6106 and EUR0.7148.

Click here for the best currency exchange rates.

The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.