US leading index above expectations
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.
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