Economic news

Dollar stable after rally, U.S. GDP figures in focus

The dollar firmed on Friday after a rally versus its major counterparts overnight, as traders waited for U.S. economic growth numbers, which could become a fresh trigger, while global monetary policy remained in focus.

Photo: Reuters

The dollar index last traded at 94.719. It had surged 0.4 percent overnight to move away from a two-week low of 94.084 as the euro fell steeply after the European Central Bank maintained its scheduled timetable to wind back its accommodative monetary policy.

The single currency was virtually unchanged at $1.1643. The greenback dropped 0.2 percent to 110.99 yen, after climbing briefly to 111.25.

Sterling was steady at $1.3113. It had fallen 0.6 percent overnight as a broadly stronger dollar and Brexit uncertainty offset the positive influence of bets on a Bank of England interest rate increase next week.

The Aussie edged up 0.15 percent to $0.7388, following the previous session’s decline.

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