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    • US Dollar Hits Two-Week High as Inflation Concerns Grow

    By on April 30, 2026
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    Dollar Strengthens While Yen Slides Past 160 Amid Market Tensions

    Singapore: The US dollar rose to its highest level in more than two weeks today, supported by hawkish signals from the Federal Reserve and rising oil prices, which heightened inflation concerns.

    The dollar index increased by 0.2 percent to 99.06, its strongest level since 13 April 2026. Despite this rise, the index is on track to record a monthly decline of 0.8 percent after two consecutive months of gains.

    The euro fell to a near three-week low of $1.1661, while the British pound declined by 0.1 percent to $1.3463.

    The Australian dollar stood at $0.712, and the New Zealand dollar traded at $0.5828, showing relative stability.

    Markets are also monitoring policy meetings of the Bank of England and the European Central Bank, amid expectations of potential interest rate increases.

    The Japanese yen weakened to 160.58 per dollar, its lowest level since July 2024, approaching levels that previously prompted market intervention, despite indications from the Bank of Japan of possible rate adjustments in the coming months.

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