Dollar Little Changed As Trading Week Draws To A Close
22 September 2017 - 5:01PM
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The dollar is turning in a mixed performance against its major
rivals Friday afternoon, but is little changed overall. Investors
have been reluctant to make any major moves going into the weekend,
as tensions between the United States and North Korea have worsened
again.
The leaders of both nations have traded verbal jabs and North
Korean Foreign Minister Ri Yong Ho said his country may consider
testing a hydrogen bomb in the Pacific Ocean.
The dollar slid to an early low of $1.2004 against the Euro
Friday, but has since rebounded to around $1.1950.
The eurozone private sector ended the third quarter on a strong
note in September, with growth in activity picking up to its
highest since May, flash data from IHS Markit showed Friday. The
headline composite output index rose unexpectedly to 56.7 in
September from 55.7 in August. The expected score was 55.6.
Germany's private sector grew at the fastest pace in almost
six-and-a-half years in September, flash data from IHS Markit
showed Friday.
The composite output index rose unexpectedly for the consecutive
second month in September, to 57.8 from 55.8 in August. This was
the highest reading since April 2011. The reading was forecast to
fall to 55.7.
France's private sector expanded the most since May 2011, flash
data from IHS Markit showed Friday. The composite Purchasing
Managers' Index rose unexpectedly to a 76-month high of 57.2 in
September. Economists had forecast the index to drop to 55.0 from
55.2 in August.
France's economic growth held steady in the second quarter as
previously estimated, latest figures from the statistical office
Insee showed Friday. Gross domestic product expanded 0.5 percent
sequentially, the same pace of growth as seen in the first quarter.
This was in line with the estimate published on August 29.
The buck dipped to an early low of $1.3595 against the pound
sterling Friday, but has since bounced back to around $1.3530.
The greenback dropped to a low of Y111.644 against the Japanese
Yen this morning, but has since climbed to around Y111.995.
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