The dollar weakened in April against most world currencies, with the U.S. dollar index closing down 3.6% for the month.
Virtually all key apparel currencies strengthened relative to the dollar in the month, with the euro and pound sterling gaining the most ground. The Indian rupee weakened the most against the greenback in the month.
The euro rose by 4.1% against the U.S. dollar in April, closing the month at $0.89. Though it remains more than 23 percent below year-ago levels, last month’s increase was the biggest monthly gain in more than two years.
The U.K. pound sterling jumped 4.4% against the dollar in the month.
The Chinese yuan edged up by 0.5% against the dollar in April.
The Indian rupee, by contrast, dipped by 1.6% compared to the dollar in April, following a similar decline in March, putting it 5.4% below its value at this time last year.
The Indonesian rupiah gained 1.1%.
The Pakistani rupee rose negligibly, finishing the month virtually flat against the dollar.
The Bangladeshi taka dipped by 0.5%.
The Vietnamese dong edged down by 0.2% relative to the dollar.
The Japanese yen rose by 1.3% in April, though remains almost 16 percent lower than last year at this time.
This week the apparel industry dabbled in new fashion technologies, discussed venture capital trends and debated about the survival of America’s department stores.Read more
Invista’s Apparel and Advanced Textiles business is at a crossroads.Read more
U.S. longshoremen are calling out bi-state entities and state port authorities for neglecting shipping labor issues.Read more
Retailers push forward with existing strategies to streamline and reduce promotions, as they focus on ways to capitalize on their online sales successes.Read more
Céline tapped Berluti executive Séverine Merle as its new CEO, meanwhile Puma named Bob Philion as its new Puma North America president.Read more
JC Penney is trimming down to focus on creating physical stores that can compete in a digital world.Read more
Depending on which country you ask, Donald Trump’s moves on trade could either be a huge boon to business or quite the opposite.Read more