The dollar is stable at the beginning of the week Thanks to strong economic data from the United States, which traders believe will keep the Fed’s tight policy longer than initially expected, writes Reuters.

Current dollar rates strengthened against most major currencies: the pound fell 0.06% to $1.2035, against the Japanese yen; the dollar held near a two-month high of 134.11. The Australian dollar rose 0.17% to $0.6890. The New Zealand dollar fell 0.07% to $0.6238 on the Reserve Bank of New Zealand’s interest rate decision Wednesday. The offshore yuan was last seen trading slightly lower at 6.8741 per $1.

With several data indicating that U.S. inflation remains solid, retail sales are stable and producer prices are higher, expectations for the country’s central bank to continue its hawkish course have increased, meaning that interest rates should be higher.

The dollar may rise this week, given recent economic data. The market now expects the Fed funds rate to peak just below 5.3% by July.

“The Fed’s hawkish comments also supported the dollar, as they signaled that interest rates must be raised to successfully suppress inflation.

European Central Bank officials said Friday that the eurozone interest rate could still rise slightly, but that had little effect on the euro, which fell 0.08% to $1.06855.

Earlier we reported that EDF’s annual net loss was nearly 18 billion euros.