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U.S. dollar decelerates aggressively

Weekly synopsis

U.S. dollar, last Friday, decelerated aggressively versus its major counterparts, amid the latest data having shown that the economy in the U.S. for the second quarter expanded at a much lower rhythm, while the BOJ did not meet the expectations for stimulus.

U.S. dollar index to 95.34

The U.S. dollar index dropped to 95.34, having reached a five-week low upon the GDP report showing disappointed results.

By late Friday, the dollar index traded 2.1% for the week, and 1.2% for the day to 95.53.

On Wednesday, the Federal Reserve left rates stable. The Japanese yen appreciated following the Bank of Japan's policy meeting outcome that disappointed the investors. The greenback traded to 101.97 versus the yen.

Furthermore, the euro escalated to 1.1197 versus the U.S. dollar, before ending 0.88% higher to 1.1175.

Friday's data showed that the euro region's GDP climbed in the second quarter 0.3% and was slower than the previous quarter's 0.6% growth.

The British currency, the sterling, traded 0.5% higher to 1.3229.

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Monday, 01 Aug, 2016 / 8:21

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Source : https://www.argusfx.com/en/research-education/market-analysis/weekly/u.s.-dollar-decelerates-aggressively

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