China faltering
economy is enhancing the dollar’s allure as a growth asset, driving the
greenback to maintain gains that have taken it to its strongest in at
least a decade.
The dollar climbed for
a fourth day versus Australia’s currency after China on Sunday reported
exports and imports that contracted more than economists forecast,
damping the outlook for nations reliant on commodity shipments. Chinese
data on inflation, retail sales and industrial output are due this week.
The Bloomberg Dollar Spot Index, which tracks the greenback against 10
major peers, surged the most since March on Friday amid speculation the
Federal Reserve will lift interest rates next month.
The Bloomberg Dollar
Spot Index rose 0.1 percent to 1,233.64 as of 10:07 a.m. in Tokyo after
climbing 1.1 percent on Friday, the most since March 19. The greenback
rose 0.1 percent to 70.35 cents per Australian dollar, adding to a 2
percent, three-day advance. The greenback climbed 0.2 percent to 123.34
yen and was up 0.1 percent at $1.0731 per euro.
Source : Bloomberg
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