New York Session – May 31, 2011 4:03 PM

The dollar was weaker amid disappointing U.S. economic data and the euro rose on prospects of additional aid to the troubled nation of Greece. EUR/USD rose to current levels of around 1.4390 on reports of a potential new aid package for Greece and as inflation data remained well above the ECB mandate level with the overnight release of EZ CPI (2.7% y/y from the prior 2.8%). The South African rand also strengthened significantly following stronger GDP figures as well as M&A activity. USD/ZAR fell to current levels of nearly 6.8100 on a stronger rand. Full text »

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