US$ extends bounce with Wall Street

THE US dollar extended last week's rebound yesterday, cheered on by another pre-Easter rally on Wall Street, and benefiting from quarter-end profit-taking pressures. In the process, the greenback elbowed its way back to the right side of several round-number obstacles, closing above 100 yen, 1 Swiss franc and 3.2 Malaysian ringgit, while pushing the Australian and New Zealand currencies back below 90 and 80 US cents at one point yesterday. At home, the US currency rose 0.3 per cent to end at a four-week high of S$1.3920.