WASHINGTON (Alliance News) - The dollar edged slightly higher versus the yen but was little changed against the euro on Monday as stocks rallied on a resurgence of merger activity.
However, risk appetite was somewhat diminished by a report from the International Monetary Fund (IMF) citing concerns about the economic outlook for Japan and China.
"As growth in the US improves, global interest rates will rise and Asia will face a further tightening in financial conditions," the IMF said.
The dollar was steady at USD1.39 versus the euro and held USD1.68 versus the sterling.
On a day of light economic news, German import prices fell most since August 2013 driven by a sharp decline in energy prices, data from Destatis showed. Import prices fell 3.3% year-on-year in March, the sharpest fall in seven months and exceeded the 2.8% decrease forecast by economists.
The dollar managed modest gains against the yen, rising to Y102.50.
Pending home sales in the US rebounded by much more than anticipated in the month of March, according to a report released by the National Association of Realtors on Monday. NAR said its pending home sales index surged up by 3.4% to 97.4 in March after edging down by 0.5% to a revised 94.2 in February.
