💥 Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

Dollar almost unchanged near 14-year highs in thin trade

Published 12/23/2016, 02:06 AM
Dollar holds steady in pre-Christmas holiday thinned trade
EUR/USD
-
GBP/USD
-
USD/JPY
-
DX
-

Investing.com - The dollar was almost unchanged against the other major currencies on Friday, still hovering close to 14-year highs amid sustained optimism over the strength of the U.S. economy and as trading volumes were expected to remain thin ahead of the Christmas holiday.

EUR/USD edged up 0.08% to 1.0443.

The U.S. Commerce Department said on Thursday that gross domestic product grew at an annual rate of 3.5% in the three months ended September 30, up from a previous estimate of 3.2% and above expectations for a reading of 3.3%.

The greenback has been broadly supported since the Federal Reserve concluded its policy meeting last week by raising interest rates by 25 basis points and projected three more rate hikes for 2017.

GBP/USD held steady at 1.2287.

Meanwhile, USD/JPY edged down 0.14% to trade at 117.38.

Market participants were looking ahead to U.S. reports on new home sales and consumer sentiment for further indications on the strength of the economy.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 103.00, just off Tuesday’s fresh 14-year highs of 103.62.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.