Dollar Bounces as Expectations of Fed Rate Hike Climb

The dollar rebounded on Monday and hit a one-month high against the yen, as resilience in core US retail sales and impressive Wall Street bank earnings raised market expectations for an interest rate hike from the US Federal Reserve in May.

The dollar rose to a one-month peak of 134.22 on Monday. Elsewhere, the euro slipped marginally to $1.0986, while sterling fell 0.02% to $1.2412.

In other currencies, the Aussie gained 0.01% to $0.67095, while the kiwi fell 0.19% to $0.61985. The offshore yuan fell roughly 0.1% to 6.8786 per dollar.

Meanwhile, the US dollar index steadied at 101.65, standing some distance away from Fridays one-year low of 100.78.

Source: Qatar News Agency

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