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Farooq

Dollar Edges Higher Vs. Other Majors in Thin Trade

HomeForexDollar Edges Higher Vs. Other Majors in Thin Trade
22
Dec
Dollar Edges Higher Vs. Other Majors in Thin Trade
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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 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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