Dollar almost unchanged near 11-year highs
Dollar almost unchanged near 11-year highs with news today from FxPremiere Group
FxPremiere.com – The U S dollar was unchanged vs other major currencies amid confidence over the strength of the US economy and as Forex trading volumes were expected to remain thin ahead of the Christmas holidays. Dollar almost unchanged near 11-year highs
EUR/USD edged up 0.11% to 1.0445.
The U.S. Commerce Department quoted on Thursday that gross domestic product grew at an annual rate of 3.7% in the 5 months ended September 29th, up from a previous estimate of 3.4% and above expectations for a reading of 3.0%.
The greenback has been broadly supported since the Fed Reserve concluded its policy meeting last week by raising interest rates by 25.4 basis points and projected three more rate hikes for 2017.
GBP/USD held steady at 1.2289.
Meanwhile, USD/JPY edged down 0.17% to trade at 117.33.
Forex Market participants were looking ahead to U.S. reports on new home sales and consumer sentiment for further indications on the strength of the economy.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 103.00, just off Tuesday’s fresh 14-year highs of 103.62.
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