US Dollar Index holds steady near mid-94.00s, one-year tops.
The US Bureau of Economic Analysis released the final US GDP report this Thursday and showed that the world’s largest economy expanded at an annualized pace of 6.7% during the April-June period. The reading was slightly better than the Preliminary estimate of 6.6% growth and market expectations.
The backwards-looking data did little to provide any meaningful impetus, though remained supportive of the prevalent bullish sentiment surrounding the US dollar. In fact, the key USD Index held steady near one-year tops, around mid-94.00s and remained well supported by prospects for an early policy tightening by the Fed.
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