Forex - Broadly weaker dollar hovers at 32-month low vs. rivals
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Forex - Broadly weaker dollar hovers at 32-month low vs. rivals
© Reuters. Dollar remains under broad selling pressure
Investing.com – The dollar continued to hover at 32-month lows against other majors on Friday, as the European Central Bank’s latest policy statement lent broad support to the euro, while downbeat U.S. data still dampened optimism over the strength of the economy.
was up 0.50% at 1.2083, the highest since January 2015.
The single currency rallied after the ECB left as expected and signaled that information would be delivered in October.
ECB President Mario Draghi added that the outlook for growth and inflation in the euro area remained “broadly unchanged”.
Meanwhile, the U.S. dollar came under pressure after the U.S. Labor Department reported on Thursday that initial jobless claims rose more than expected to last week.
Sentiment on the greenback was also vulnerable as markets monitored the , which was set to hit Miami over the week-end.
declined 0.65% to trade at an 10-month low of 107.74.
Investors remained cautious amid speculation North Korea could launch an intercontinental ballistic missile on Saturday.
In Japan, data earlier showed that gross domestic product expanded by in the second quarter, down from an initial estimate of 1.0% and disappointing expectations for a growth rate of 0.7%.
edged up 0.19% to a five-week high of 1.3136.
The Australian and New Zealand dollars were also sharply higher, with up 0.72% at 0.8105 and with rallying 1.09% to 0.7312.
Data on Friday showed that China’s exports increased by an annualized rate of last month and that imports jumped .
China is Australia’s biggest export partner and New Zealand’s second biggest export partner.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.35% at 91.17 by 02:20 a.m. ET (06:20 GMT), the lowest level since January 2015.
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