Forex – Dollar Edges Higher Vs. Other Majors in Thin Trade

Forex – Dollar Edges Higher Vs. Other Majors in Thin Trade

Dollar gains ground vs. rivals but gains cappedDollar gains ground vs. rivals but gains capped – The dollar edged higher against other majors currencies on Friday, as U.S. data and the vote of a major U.S. tax reform plan lent some support to the greenback.

Trading volumes were expected to remain ahead of the Christmas holiday on Monday.

Data on Thursday showed that the U.S. economy grew in the third quarter, which was a downward revision from the previous reading of 3.3%. It was still the fastest pace in more than two years.

The report came a day after the House of Representatives to the biggest U.S. tax overhaul in 30 years, marking President Donald Trump’s first political victory for .

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% at 92.95 by 02:05 a.m. ET (06:05 GMT).

The euro was lower, with down 0.14% at 1.1858, while held steady at 1.3381.

The single currency came under pressure after a Catalan vote on Thursday resulted in a , sparking fresh concerns over political turmoil in Spain.

The yen and the Swiss franc were little changed, with at 113.37 and with at 0.9889.

Elsewhere, the Australian dollar was stronger, with up 0.17% at 0.7715, while held steady at 0.7020.

Meanwhile, was almost unchanged at 1.2740.

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Published at Fri, 22 Dec 2017 07:07:00 +0000