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Dollar Index Holds Around Five Month High, World Bank To Release Global Economic Prospects Report Soon

Published on Apr 16, 2024 14:35

The US dollar index is holding onto gains amid sustained worries over global geopolitical scenario and firms US economic cues. The Commerce Department released a report on Monday showing US retail sales increased at a decent clip in March. The report said retail sales climbed by 0.7% in March after advancing by an upwardly revised 0.9% in February. This data has triggered further uncertainty regarding the probable interest rate trajectory in the US in near term and the US dollar index is up 0.13% at 106.14- lingering at a five month top as break above 106 mark is sustaining. Global markets are also waiting for the release of the World Bank Global Economic Prospects update for 2024 eagerly.

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