US Retail Sales rose 0.5% in April, boosting the US Dollar Index to near 98.80 as yields climbed.
The US Dollar Index (DXY) climbed toward 98.80, marking its highest level in two weeks, after April’s Retail Sales data showed a 0.5% increase. The gain underscores persistent consumer demand despite higher borrowing costs.
Analysts had anticipated a modest rise, following a flat reading in March. The stronger-than-expected print reinforced expectations of resilient economic activity, supporting Treasury yields and the greenback.
The move reflects shifting market sentiment as traders weigh the Federal Reserve’s policy path amid mixed inflation signals.