The super dollar rebounded strongly after falling to one-year lows

The dollar index rebounded this Friday from a one-year low, after some components of the March retail sales were not as weak as some economists feared, while a prominent monetary authority in the Federal Reserve warned that the entity you need to keep raising interest rates to reduce inflation.

The dollar initially fell but then rose after data showed US retail sales fell more than expected in March.as consumers reduced purchases of motor vehicles and other high-value items.

Core retail sales, which correspond more closely to the consumer spending component of Gross Domestic Product, fell 0.3% last month. However, despite the decline in March, the gains in January and February put consumer spending firmly on track to accelerate in the first quarter.

The dollar index, gained 0.57% on the day, to 101.53 units, after previously falling to 100.78, its lowest level since last April. He registered, however, his fifth consecutive week of declines.

The euro was down 0.44% at $1.0999. It had previously hit $1.10755, its highest since April. The US currency advanced 0.91% against the yen, to 133.78 units.

Investors are pricing in the likelihood that the Fed will have to cut rates later in the year due to an expected slowdown. However, the economy remains relatively resilient, making currency trading volatile.

Other data on Friday showed that US consumer confidence rose in April, but households expected inflation to rise over the next 12 months. Factory output also fell more than expected in March, but posted a modest gain in the first quarter.

Fed Governor Christopher Waller said Friday that despite a year of aggressive rate hikes, policymakers They have “not made much progress” in bringing inflation back to their 2% target and need to raise rates further.