SINGAPORE : The dollar bounced from a one-year low on Monday as resilience in core U.S. retail sales, a rise in short-term inflation expectations and impressive Wall Street bank earnings raised market expectations for an interest rate hike in May.While U.S. retail sales fell more than expected in March, s
SINGAPORE : The dollar bounced from a one-year low on Monday as resilience in core U.S. retail sales, a rise in short-term inflation expectations and impressive Wall Street bank earnings raised market expectations for an interest rate hike in May.
Against a basket of currencies, the U.S. dollar index rose 0.15 per cent to 101.82, standing some distance away from Friday's one-year low of 100.78.The euro fell 0.2 per cent to $1.0965, while sterling slipped 0.22 per cent to $1.2387. Short-term inflation expectations have also increased, with the University of Michigan's preliminary April reading showing that one-year inflation expectations rose to 4.6 per cent from 3.6 per cent in March.
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