US$ rally has legs, says Goldman Sachs

New York

THE US dollar's two-week rally has room to run, with Goldman Sachs Group citing scope for greenback strength versus the yen, while Bank of America projects gains against the pound and the Australian dollar.

The Bloomberg Dollar Spot Index posted its first consecutive weekly gains since January after falling to an almost one-year low on May 3. It reached a six-week high on Friday after data showed April retail sales increased by the most in a year, adding to the case for the Federal Reserve to raise interest rates this year.