The US Dollar sustained losses against all other major currencies, due to a poor reading of the US Manufacturing PMI data yesterday.
The British currency experienced mixed performance on Monday, having appreciated against some major peers, but declined against the others.
Despite much weakened US currency, all major commodities have posted a significant retreat in prices over Monday, the second day of May. Natural gas was down the most by more than 6%, with contracts for delivery in June losing attractiveness in the wake of warmer US weather forecasts.
The Euro remained on the topside against all major currencies but the Australian Dollar (-0.07%), although a considerable surge with respect to this South Pacific currency is expected on Tuesday amid a decision of the Reserve Bank of Australia to cut interest rates by 25 basis points.
The US Dollar's performance on Friday and over the weekend was almost identical to the British Pound's, with the exception of the Cable edging 0.03% higher.
The Sterling ended the previous week with losses against most major peers, although some gains were registered against most commodity currencies and the Buck.
Precious metals and natural gas were all bid on the last trading day of April, as the rally was prompted by dampened US currency in the wake of disappointing fundamentals and generally risk-off market sentiment.
With growing risk-averse market sentiment and declining oil prices, the Euro turned to become one of the best-performing currencies on Friday of the previous week.