Sunday September 23, 2018
Home Business US dollar ind...

US dollar index falls, tells latest GDP report

US gross domestic product (GDP) increased at a 2.3-percent annual rate for the first quarter of 2018, beating market consensus of a 2-per cent gain, but lower than the 2.9-percent growth rate in the previous quarter, the Commerce Department said on Friday.

0
//
33
The US dollar bought 109.03 Japanese yen, lower than 109.37 Japanese yen of the previous session.
USD Image, pixabay
Republish
Reprint

The US dollar index decreased against most other major currencies after wavering between gains and losses, as investors digested the country’s newly-released economic growth report for the first quarter of 2018.

In late New York trading on Friday, the euro rose to $1.2123 from $1.2107 in the previous session, and the British pound was down to $1.3784 from $1.3923 in the previous session. The Australian dollar increased to $0.7581 from $0.7552, Xinua reported.

The dollar index, which measures the greenback against six major peers, was down 0.03 per cent at 91.537 in late trading.
US Dollar Image, pixabay

The US dollar bought 109.03 Japanese yen, lower than 109.37 Japanese yen of the previous session.

The US dollar fell to 0.9879 Swiss franc from 0.9893 Swiss franc, and it dipped to 1.2834 Canadian dollars from 1.2872 Canadian dollars.

US gross domestic product (GDP) increased at a 2.3-percent annual rate for the first quarter of 2018, beating market consensus of a 2-per cent gain, but lower than the 2.9-percent growth rate in the previous quarter, the Commerce Department said on Friday.

“As for growth, the quarter was actually pretty good despite the slowdown in headline GDP growth. It would have been 2.9 per cent if not for the hangover from Q4 storm-related spending on autos and home repair,” said Chris Low, chief economist at FTN Financial, in a note.

Also Read: Report: Indian Retailers Trust LAVA Brand The Most

On other economic news, the final reading of US Consumer Sentiment Index came in at 98.8 in April, above market estimates, according to a survey released by the University of Michigan on Friday.

The dollar index, which measures the greenback against six major peers, was down 0.03 per cent at 91.537 in late trading. (IANS)

 

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

US, Britain Step Up In Order to Tackle Female Genital Mutilation

The mutilation of girls’ external genitals for non-medical reasons is practiced across Africa, the Middle East and Asia. It also affects immigrant communities in Europe and the U.S.

0
Female Genital Mutilation
A badge reads "The power of labor against FGM" is seen on a volunteer during a conference on International Day of Zero Tolerance for Female Genital Mutilation (FGM) in Cairo, Egypt, Feb. 6, 2018. (VOA)

Authorities in the U.S. and Britain are stepping up cooperation to tackle female genital mutilation, staging joint operations at airports in London, New York and elsewhere to raise awareness of an issue that affects millions of girls and women worldwide.

Police and border security agencies on both sides of the Atlantic have signed a new agreement to share intelligence about when and where victims may be taken for the procedure, known as FGM, and help identify perpetrators.

Also read About Apple’s New Online Portal- Apple to Unveil a Web Portal For Law Enforcement Data Requests

In the past week, officials also targeted travel hubs including Heathrow, JKF airport and Eurostar stations, approaching people traveling from countries where the practice is common and encouraging them to report any concerns.

The mutilation of girls’ external genitals for non-medical reasons is practiced across Africa, the Middle East and Asia. It also affects immigrant communities in Europe and the U.S. (VOA)

Next Story