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    • Dollar Holds Near One-Week High After US Inflation Data

    By on May 13, 2026
    Dollars
    Dollars

    Hong Kong:  The US dollar steadied near a one-week high today as investor risk appetite weakened following higher-than-expected US inflation data that pushed Treasury yields higher, while oil prices rose amid renewed uncertainty surrounding the Middle East conflict.

    The euro traded at $1.1735 and sterling stood at $1.3532 in early Asian trading, with both currencies declining by around 0.05 percent against the dollar.

    The dollar index, which tracks the US currency against a basket of six major currencies, held at 98.335, close to its strongest level in a week.

    Data showed that US consumer prices rose by 3.8 percent in the 12 months through April, marking the largest annual increase since May 2023.

    The yield on the two-year US Treasury note, which reflects expectations for Federal Reserve monetary policy, rose to 3.9956 percent, while the benchmark 10-year Treasury yield climbed to 4.4688 percent.

    Market expectations for a Federal Reserve interest rate cut this year weakened, while the probability of a 25-basis-point rate increase at the Fed’s December meeting rose to 35 percent, according to CME FedWatch data.

    The Australian dollar traded at $0.72365 and the New Zealand dollar at $0.5954, both remaining largely stable.

    The Japanese yen held at 157.715 per dollar after sharp gains recorded yesterday prompted speculation about possible official action to support the currency.

    Meanwhile, the Chinese yuan traded near 6.79 per dollar, close to its strongest level since February 2023.

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