Dollar Rises With U.S. Yields Before Fed Minutes; Pound Climbs

The dollar rose as Treasury yields increased from almost six-month lows before the release of minutes from the Federal Reserve’s April meeting.

The U.S. currency gained against the euro amid concern the European Parliament elections starting tomorrow may shift the balance of power in the 18-nation region. The pound rallied as retail sales jumped more in April than economists forecast and the Bank of England said the case for interest-rate increases is becoming more balanced. The yen reached a three-month high earlier after the Bank of Japan refrained from expanding stimulus. Russia’s ruble rose to the highest in four months after a debt auction succeeded for a second week.