The U. S. dollar rose on Thursday, boosted by a positive read on economic growth that particularly lifted it against the euro and the yen.
The dollar rose on Thursday, boosted, particularly against the euro and Japanese yen, by a positive read on U. S. economic growth.
The latest data on fourth-quarter U. S. gross domestic product showed the U. S. economy expanded at a 2.1% annualized pace in the last three months of 2016, above the initial estimate of a 1.9% annual rate. The report was the latest economic indicator to point to an improving economy, following reads on consumer confidence and the labor market. The number of Americans applying for first-time jobless benefits fell last week, but not by as much as some economists had expected.
Neil Mellor, currency strategist at BNY Mellon, said that while the GDP data had helped reassure dollar bulls, “the jury is still out as we come to grips with [President Donald] Trump’s policy programs.”
The buck fell against the British pound, however, which climbed as investors awaited the European Union’s opening salvo in negotiations over the terms of the U.
