The dollar gained the most against the euro in four days and strengthened versus the yen as global stocks rallied and the index of leading U.S. economic indicators unexpectedly rose in April. The greenback had traded earlier near the lowest level in more than two weeks against the common European currency on concern that a decline in consumer confidence may prevent a rebound in U.S. economic growth. The dollar advanced after the Conference Board's gauge increased 0.1 percent for a second month, better than forecast, the New York-based research group said today. The measure points to the direction of the economy over the next three to six months.
The dollar may gain further on speculation minutes from the Fed's meeting last month will show policy makers are concerned that rising commodity prices will fan inflation. The Fed on May 21 will release minutes of its April meeting, where the policy- setting Federal Open Market Committee cut the benchmark interest rate by a quarter point to 2 percent.
EU Construction production decreased on the month in March on weak demand in both building and civil engineering, more than offsetting February's upwardly revised gain, Eurostat said Monday. March's 2.2% monthly decrease left output down 1.4% on the year. Taking into account an upward revision for February to +1.6% from +1.2% and a minor downward
correction of January data, production in 1Q stood 2.3% above 4Q output, which was revised up 0.4 point by Eurostat to -0.1% q/q. Looking ahead, tighter lending terms and a widespread cooling of housing markets are likely to weigh on construction as well as overall investment.

EUR/USD: gained from $1.5560/80 to $1.5632 to be lower tlater till $1.5480/$1.5520 after strong US data.
GBP/USD: fell from a high at $1.9620 to daily lows on $1.9450.
USD/JPY: sunk from Y104.30 to Y103.60, before rebounding till Y104.70/30.
PPI data at 1230GMT leads the US releases and is expected to rise 0.4%in April on an increase in energy prices and a smaller, but still solid,rise in food prices. Core PPI is forecast to rise 0.2%. The weekly Redbook data is then due at 1255GMT.

closing
Nikkei 225 +50.13 +0.40% 14,269.61
Topix +8.38 +0.60% 1,404.25
FTSE +72.20 +1.15% 6,376.50
DAX +69.39 +0.97% 7,225.94
CAC +64.06 +1.26% 5,142.10
Dow +41.36 +0.32% 13,028.16
NASDAQ -12.76 -0.50% 2,516.09
S&P +1.28 +0.09% 1,426.63
10yr Note ; -0.1100 -0.029% 3.839%
NYMEX Crude Oil +0.76 +0.60% 127.05
Gold +5.90 +0.66% 905.80

Japanese stocks advanced to the highest in four months after coal jumped to a 12-week high and crude oil reached a record, boosting the earnings outlook for energy-related companies.
Mitsubishi, Japan's largest trading company, climbed 4.9%, the highest since it was listed on the exchange in 1954. Smaller rival Mitsui, which gets more than half its profit from commodities, rose 3.6%, while Itochu Corp., which has stakes in iron-ore, alumina and coal mines, jumped 4.5%.
Mitsui Matsushima Co., which has stakes in Australian and Canadian coal mines, surged 19%, the highest since July 1999. Operating profit will jump by almost fivefold this year as coal prices are expected to remain high, Mitsui Matsushima said on May 16. Inpex, Japan's largest oil and gas explorer, gained 5.3%, the highest since it was listed on the bourse in April 2006, while smaller rival Japan Petroleum Exploration Co. added 4.5%. UBS AG boosted its 12-month price estimate for Inpex's shares by a quarter and raised its rating on Japan Petroleum to ``buy'' from ``neutral.''
Nippon Steel Corp., the world's second-largest maker of the alloy, added 5%, the highest since Jan. 25. It was the most actively traded company on the first section of the Tokyo Stock Exchange, followed by Mitsui Matsushima.

European stocks rose for a fourth day as higher oil and power prices lifted earnings prospects for energy producers and utilities, while investors speculated takeovers will increase.
E.ON, Germany's largest utility, gained 3.2%. RWE AG, the nation's second-biggest, rose 2.4%.
Enodis advanced 2.4% after Manitowoc, the biggest ice-machine maker in the U.S., raised its offer to buy the U.K. company to 1.08 billion pounds ($2.11 billion), trumping a rival offer from Illinois Tool Works Inc.
Bradford & Bingley Plc led U.K. banks lower on concern the economic outlook may worsen. The nation's biggest lender to landlords, which last week said it would sell 300 million pounds ($585 million) to boost depleted capital, tumbled 16%. HBOS Plc, Britain's biggest mortgage lender, slid 1.4%. Royal Bank of Scotland Group Plc, the U.K.'s second-biggest bank, sank 3.9%.
Infineon Technologies AG, Europe's second-biggest semiconductor maker, climbed 3%. ASML Holding NV, Europe's largest maker of semiconductor equipment, added 2.3%.
Novartis AG added 3.2%. The RAD001 experimental drug made by Switzerland's second-largest drugmaker slowed progression of kidney cancer in a study, according to documents released by an oncology group. British Airways Plc dropped 4.4%. Europe's third-largest carrier had its shares cut to ``sell'' from ``buy'' at Deutsche Bank AG.

US Blue chips rose Monday, with the S&P 500 narrowly testing a five-month high, thanks to a stronger-than-expected economic indicators report. But tech selling kept the Nasdaq in the red, along with record commodity prices.
Investors watched Microsoft and Yahoo. On Sunday, Microsoft said it had approached Yahoo about teaming up on a transaction. Microsoft said it hadn't resurrected full takeover bid for Yahoo, but left that possibility open.
In other deal news, another troubled takeover effort could be revived. The Wall Street Journal reported that Electronic Arts (ERTS) is likely to again extend the deadline for its hostile tender offer to acquire videogame rival Take-Two Interactive Software (TTWO) after failing to get the support of a majority of the company's shareholders for a deal.
General Motors shares rose in after-hours trading Friday after a local of the United Auto Workers union ratified a deal to end a month-long strike at a plant that made the popular Buick Enclave, Saturn Outlook and GMC Acadia. That Michigan plant is set to reopen Monday.
Flash memory maker SanDisk (SNDK) reportedly made bearish comments about its sales outlook at a JP Morgan tech conference. The comments weighed on the shares of SanDisk and other technology stocks. Amazon.com shares jumped 7.6% after Goldman Sachs resumed coverage of the company with a "buy" rating and boosted its six-month price target to $98 from $75, according to reports.