COMMERCIAL

The US dollar rallied against the Euro following weaker equity markets. The Euro fell from highs near US$1.3435 and US$1.3280, ending US trade near US$1.3330. The Aussie dollar traded up from lows near US73.85c to US74.75c, ending US trade near US74.30C. And the Japanese yen marginally weakened from highs 98.60yen per US dollar and JPY99.50, ending US trade near JPY99.00.

Crude oil prices fell on concerns about rising inventory levels as US inventories remained at 19 year highs. The June Nymex contract fell by US63c or 1.2pct to US$53.84 a barrel. London Brent crude fell by US46c to US$54.12 a barrel.

Base metal prices were mostly stronger, as more positive economic data continued to flow. Gains were limited by the a stronger US dollar. Gold futures rose following commodities higher.