By Cornelius Luca
New York, June 5 (BridgeNews) - The euro is trying to crawl its way back in to positive territory after notching a new six-month low of 84.25 cents to the dollar. Traders feel confident to unload the single currency to a new record low after Eurogroup Chairman Didier Reynders and Austrian finance minister Karl-Heinz Grasser said Monday night that the European Central Bank does not see the currency level as an inflation threat. But it was a vague rumor that Bank of France intervened that actually provided a dose of support to the embattled euro.
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Sterling/dollar matched euro/dollar's swings with a decline to a six-month low of 1.4068, while dollar/Swiss franc slipped within Monday's range. The mismatching of the euro and the Swiss franc sent the cross down to a five-month low of 1.5128. Dollar/Canada climbed to a five-day high of 1.5384 while consolidating further below the resistance of its 20-day moving average at 1.5411.
On the domestic economic front, the market will focus on the revision of the first quarter. The consensus is looking for -0.2%, down from the preliminary -0.1%.
The dollar looks bid versus both the euro and the yen, with traders looking to push the single currency below 0.8400 and dollar/yen above the 120.00 psychological level.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 119.89 119.26 0.63 118.70 119.92
EUR/USD 0.8468 0.8464 0.0004 0.8425 0.8482
EUR/JPY 101.53 100.95 0.58 100.25 101.55
GBP/USD 1.4094 1.4144 -0.0050 1.4068 1.4144
USD/CHF 1.7880 1.7941 -0.0061 1.7878 1.7971
USD/CAD 1.5377 1.5363 0.0014 1.5356 1.5384
AUD/USD 0.5078 0.5078 0 0.5050 0.5082
NZD/USD 0.4106 0.4102 0.0004 0.4096 0.4111
SP.1 1271.50 2.30 1268.00 1272.00
ND.1 1865.00 23.00 1839.00 1868.00