Dollar under pressure after US data

Dhaka,  Mon,  01 May 2017
Published : 17 Apr 2017, 14:44:34
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Dollar under pressure after US data

Dollar under pressure after US data
The US dollar dipped on Monday while US bond yields slumped to five-month lows after soft US economic data hurt investor sentiment ahead of North Korea and French elections.

A raft of Chinese economic data also beat market expectations but did not produce notable market reactions as investors had been already optimistic following a recent string of positive China numbers.

China's economy grew 6.9 per cent in the first quarter from a year earlier, a tad above economists' forecast of 6.8 per cent.

US retail sales dropped more than expected in March while annual core inflation slowed to 2.0 per cent, the smallest advance since November 2015, from 2.2 per cent in February, data showed on Friday.

That helped to drive down the 10-year US Treasuries yield to 2.200 per cent, its lowest level since mid-November from around 2.228 per cent on Thursday before a market holiday on Friday.

The yield had risen above 2.6 per cent in December and again in March, from around 1.85 per cent before the US presidential election, on expectations of Trump's stimulus.

The dollar slipped to as low as 108.13 yen, a five-month low and 0.4 per cent below its late US levels.

The euro stood at $1.0622, little moved so far, and not far from a one-month low of $1.0570 touched last Monday, with focus on the French presidential election, according to Reuters.
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