US Dollar Rises, Yen Extends Decline

The US dollar index, which measures the greenback against six major currencies, was at 100.75, continuing to stay above the one-year low it hit last week, while the yen extended its decline in markets thinned by a Japanese holiday. The dollar strengthened against the yen last week after policy meetings in both the United States and Japan, hitting its highest level in two weeks at 144.50 yen. It was around 144.16 on Monday. The Australian dollar was 0.4% higher at $0.68355, digesting its rise of more than 3% in less than two weeks. Euro was flat at $1.1165. The Bank of England kept rates unchanged on Thursday, with its governor saying the central bank had to be "careful not to cut too fast or by too much." The pound was little changed at $1.3315, staying near highs it hit on Friday after the release of strong British retail sales data. -- Ends/Khalid Source: Oman News Agency