Investing.com - The U.S. dollar was moving in a tight range against the other major currencies on Thursday, ahead of a keenly anticipated speech by Federal Reserve Chairman Ben Bernanke at a symposium in Jackson Hole, Wyoming, on Friday.
During European morning trade, the dollar was slightly lower against the euro, with EUR/USD easing up 0.15% to 1.2545.
Investors remained cautious ahead of Bernanke’s speech, amid ongoing speculation over how close the Fed may be to implementing more economic stimulus measures.
Revised data on Wednesday showed that the U.S. economy expanded by 1.7% in the second quarter, up from the initial estimate of 1.5% and in line with expectations, on the back of higher consumer spending.
A separate report showed that U.S. pending home sales rose to the highest level since April 2010 in July, increasing by 2.4% after declining 1.4% the previous month.
Demand for the euro continued to underpinned by expectations that the European Central Bank is working on measures to help stabilize the euro zone's sovereign debt markets and bring down Spanish and Italian borrowing costs ahead of its upcoming policy meeting on September 6.
The greenback was fractionally higher against the pound, with GBP/USD dipping 0.05% to 1.5824.
In the U.K., official data showed that net lending to individuals increased by GBP0.9 billion in July, below expectations for a GBP1.1 billion increase.
Elsewhere, the greenback edged lower against the yen and the Swiss franc, with USD/JPY slipping 0.09% to 78.63 and USD/CHF losing 0.14% to trade at 0.9570.
The greenback was mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD up 0.20% to 0.9913, AUD/USD sliding 0.20% to trade at 1.0328 and NZD/USD edging up 0.10% to 0.8012.
The Australian dollar came under pressure after official data showed that building approvals tumbled 17.3% in July, compared to expectations for a 4.3% decline.
A separate report showed that private capital expenditure rose 3.4% in the second quarter from the first to AUD41.96 billion, beating expectations for a 2.7% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, slipped 0.09% to 81.49.
Later in the day, the U.S. was to release official data on personal income as well as a weekly report on jobless claims.
During European morning trade, the dollar was slightly lower against the euro, with EUR/USD easing up 0.15% to 1.2545.
Investors remained cautious ahead of Bernanke’s speech, amid ongoing speculation over how close the Fed may be to implementing more economic stimulus measures.
Revised data on Wednesday showed that the U.S. economy expanded by 1.7% in the second quarter, up from the initial estimate of 1.5% and in line with expectations, on the back of higher consumer spending.
A separate report showed that U.S. pending home sales rose to the highest level since April 2010 in July, increasing by 2.4% after declining 1.4% the previous month.
Demand for the euro continued to underpinned by expectations that the European Central Bank is working on measures to help stabilize the euro zone's sovereign debt markets and bring down Spanish and Italian borrowing costs ahead of its upcoming policy meeting on September 6.
The greenback was fractionally higher against the pound, with GBP/USD dipping 0.05% to 1.5824.
In the U.K., official data showed that net lending to individuals increased by GBP0.9 billion in July, below expectations for a GBP1.1 billion increase.
Elsewhere, the greenback edged lower against the yen and the Swiss franc, with USD/JPY slipping 0.09% to 78.63 and USD/CHF losing 0.14% to trade at 0.9570.
The greenback was mixed against its Canadian, Australian and New Zealand counterparts, with USD/CAD up 0.20% to 0.9913, AUD/USD sliding 0.20% to trade at 1.0328 and NZD/USD edging up 0.10% to 0.8012.
The Australian dollar came under pressure after official data showed that building approvals tumbled 17.3% in July, compared to expectations for a 4.3% decline.
A separate report showed that private capital expenditure rose 3.4% in the second quarter from the first to AUD41.96 billion, beating expectations for a 2.7% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, slipped 0.09% to 81.49.
Later in the day, the U.S. was to release official data on personal income as well as a weekly report on jobless claims.