SINGAPORE : The dollar eased on Tuesday after rallying overnight as strong U.S. economic data reinforced expectations that the Federal reserve will hike interest rates again in May, while China's economic recovery gathered pace in the first quarter.The dollar index, which measures the currency against six
SINGAPORE : The dollar eased on Tuesday after rallying overnight as strong U.S. economic data reinforced expectations that the Federal reserve will hike interest rates again in May, while China's economic recovery gathered pace in the first quarter.
Separate data on March activity also released on Tuesday showed retail sales growth quickened to 10.6 per cent, beating expectations and hitting a near two-year high, while factory output growth also sped up but was just below expectations. "The dollar can remain sensitive to the strength, or not, of the economic data as the Fed likely nears the end of their tightening cycle," said Kristina Clifton, an economist at Commonwealth Bank of Australia .
Sterling was last trading at $1.2381, up 0.06 per cent on the day ahead of employment data that could potentially cause some volatility in the pound if the report shows that the labour market is not cooling.
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