The US dollar gained against the majors in New York as traders bid the greenback on a short covering following last week's sharp sell off.
The US dollar gained today ahead of the tomorrow's data heavy day as markets await the release of the US Treasury Inflows (TICS) data and retail sales. The two key economic releases will be closely scrutinized by the markets and might set the tone for rest of the week's trading until the US Current Account data becomes available.
US retail sales are expected to increase by 0.8 percent in February as US economy continues to expand. US TICS data is expected to reveal that the world's largest economy attracted $58.6 billion worth of international investments and that the foreign investors are willing to fund mounting US deficits.
The US dollar was quoted at 1.3360-63 against the euro, 1.9136-41 versus the pound and 104.67-71 against the Japanese yen at 01:30 GMT.
Wall Street gained as treasury yields fell from seven-month highs prompting a rally in financial and utilities sectors.
Management changes at Walt Disney Co., American International Group Inc., Office Depot Inc. and AutoZone Inc. sparked some of the biggest moves in benchmark indexes.
The Standard and Poor's 500 added 6.75, or 0.6 percent, to 1206.83. The Dow Jones Industrial Average rose 30.15, or 0.3 percent, to 10,804.51. The NASDAQ Composite Index climbed 9.44, or 0.5 percent, to 2051.04,
Financial sector was in play as the US treasury yields fell from July highs. Citigroup, the world's largest bank, rose 43 cents to $48.22. Washington Mutual Inc., the biggest U.S. savings and loan, added 70 cents to $41.75. Freddie Mac gained $1.14 at $65.84.
FirstEnergy led gains among utility stocks, up $1.43 to $42.02. Exelon, the second- largest U.S. utility owner, added 56 cents to $46.67.
Disney gained 43 cents, or 1.6 percent, to $28.02 after the company announced that the President Robert Iger, 54, will replace Michael Eisner in September.
Genentech Inc., the world's second biggest biotechnology company, rallied $10.92, or 25 percent, to $55 after the Avastin drug prolonged survival in lung-cancer patients by more than two months in a clinical study.
Standard and Poor's 500 futures contract for June settlement rose 6.70 to 1212.10 on the Chicago Mercantile Exchange. Nasdaq-100 Index futures advanced 6.50 to 1525.
The NYMEX crude oil futures contract for April delivery rose 52 cents to $54.95 a barrel on speculation that OPEC and other oil producing countries will fail to meet rising global demand. Gasoline futures for April delivery fell 1.1 cents to $1.5065 a gallon.
COMEX gold futures contract for April delivery fell $5.10 to $441.70 an ounce after the dollar posted strong gains against the majors. Silver futures for May delivery was up 2 cents to $7.43 an ounce. Copper futures contract for May delivery fell 0.85 cents to $1.4705 a pound, a two-week low, on concerns that dollar rally may slow global demand by making the commodity more expensive to import for some overseas buyers.
US treasuries rallied as investors found yields above 4.50 percent attractive enough to compensate for the inflationary risk brought upon by rising commodity prices. The 10 Year Treasury Note gained ? to 95 15/16 with yields down by 3 basis points to 4.51 percent.