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Forex - Dollar Edges Higher Vs. Other Majors in Thin Trade

Published 12/22/2017, 02:07 AM
Dollar gains ground vs. rivals but gains capped
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Investing.com - The dollar edged higher against other majors currencies on Friday, as U.S. data and the vote of a major U.S. tax reform plan lent some support to the greenback.

Trading volumes were expected to remain ahead of the Christmas holiday on Monday.

Data on Thursday showed that the U.S. economy grew 3.2% in the third quarter, which was a downward revision from the previous reading of 3.3%. It was still the fastest pace in more than two years.

The report came a day after the House of Representatives gave final approval to the biggest U.S. tax overhaul in 30 years, marking President Donald Trump's first political victory for .

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% at 92.95 by 02:05 a.m. ET (06:05 GMT).

The euro was lower, with EUR/USD down 0.14% at 1.1858, while GBP/USD held steady at 1.3381.

The single currency came under pressure after a Catalan vote on Thursday resulted in a victory for separatists, sparking fresh concerns over political turmoil in Spain.

The yen and the Swiss franc were little changed, with USD/JPY at 113.37 and with USD/CHF at 0.9889.

Elsewhere, the Australian dollar was stronger, with AUD/USD up 0.17% at 0.7715, while NZD/USD held steady at 0.7020.

Meanwhile, USD/CAD was almost unchanged at 1.2740.

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