Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Dollar slips lower, U.S. GDP report on tap

Published 22/12/2015, 11:07
© Reuters.  Dollar edges lower vs. rivals with U.S. data in focus
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CHF
-
AUD/USD
-
USD/CAD
-
NZD/USD
-
DX
-

Investing.com - The dollar slipped lower against the other major currencies on Tuesday, as investors remained cautious on the greenback ahead of the release of U.S. economic growth data due later in the day.

Trading volumes were expected to remain limited ahead of the Christmas Holiday.

USD/JPY slipped 0.12% to 121.05.

The dollar mildly weakened as market participants awaited of a final report on U.S. third-quarter growth for further confirmation of the strength of the economy.

But the greenback still remained supported after the Federal Reserve hiked interest rates by a quarter of a percentage point to a range between 0.25% and 0.5% in a widely expected move. It was the first rise in U.S. interest rates in nearly 10 years.

EUR/USD added 0.15% to 1.0931.

The euro’s gains were expected to remain limited as inconclusive elections in Spain over the weekend sparked political concerns.

Spanish Prime Minister Mariano Rajoy said on Monday that his centre-right People's Party (PP) would talk to rivals in a bid to form a government, but the left-wing parties reportedly said they would not want Rajoy to remain in power.

Elsewhere, the dollar was steady against the pound, with GBP/USD at 1.4878 and was lower against the Swiss franc, with USD/CHF down 0.09% at 0.9912.

Earlier Tuesday, the U.K. Office for National Statistics reported that public sector net borrowing rose to £13.56 billion in November from £6.75 billion in October, whose figure was revised from a previously estimated £7.47 billion.

Analysts had expected public sector net borrowing to rise to £11.00 billion last month.

The Australian and New Zealand dollars were stronger, with AUD/USD up 0.53% at 0.7229 and with NZD/USD advancing 0.78% to 0.6814.

Meanwhile, USD/CAD edged down 0.14% to trade at 1.3939, still close to Friday’s more than 11-year high of 1.4000.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.11% at 98.32.

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.