Dollar surges on biggest US consumer confidence jump in 44 months

(Source: Yahoo! Finance)

*CB leading indicator beat
*Dollars surges against the yen

Good data has seen the dollar shoot up against the yen. The University of Michigan consumer sentiment index has beaten expectations, rising from 76.4 to 83.7 for May. Analysts had expected a rise to just 78. This is the index's largest rise in 44 months, and the highest level since July 2007.

The CB leading indicator also came in strong for April, rising 0.6 per cent versus -0.2 per cent in the month previous. Forecasts had anticipated a smaller increase to 0.2 per cent.