GBP/USD drops to 1.3900 neighbourhood, fresh session lows. EUR/USD set to climb towards the 2021 high at 1.2349 – Commerzbank. The slide from 1.2150 to 1.21 is probably not the usual “buy the dip” opportunity. The dollar index was up 0.1% at 90.648, trading around levels last seen in late February. The index is on course to end the week 0.2% lower, bringing its losses for April to 2.8%. A four-week losing streak would be the longest since the six-week slide to the end of July. In part that’s because of the gains of commodity currencies, amid surging prices for both industrial and agricultural products. The dollar’s biggest losses this week have been against the Canadian and New Zealand dollars. USD/JPY fell 0.1% to 108.77, just off the two-week high of 109.22 from Thursday. The risk-sensitive AUD/USD rose 0.2% to 0.7779, climbing back toward the six-week high of 0.7818 seen on Thursday. This dollar weakness was helped by the decision of the Federal Reserve to leave its ultra easy monetary policies in place even while it acknowledged that there had been an improvement in the economic conditions, as typified by first-quarter GDP growth of 6.4%, released Thursday.