The dollar's decline intensifies, the pound rises to its highest level since May 7th.

Due to the impact of Moody's downgrade of the US government's highest credit rating, the US dollar came under pressure again after the London opening, with the trade-weighted exchange rate falling by 0.6%. The British pound/US dollar rose by 0.6% to 1.3366; the euro/US dollar rose by 0.7% to 1.1240, also supported by Lagarde's weekend remarks. The US dollar/Japanese yen fell by 0.7% to 114.70, the lowest level since May 8th.