The US dollar rose against most of the major currencies last week for which the new SARS-like virus injected fresh volatility into the capital markets. There were two exceptions. The first is the Japanese yen, which gained about 0.8% as the chief beneficiary of more limited risk appetites. The second was sterling, where the pendulum of market sentiment shifted away from a rate cut in the week ahead and helped lift the pound by almost 0.45%. The Norwegian krone was the worst-performing major currency, losing 1.5% against the dollar on the back of a weakened