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Dollar hits 2-month high after US growth data


Saturday, 27 July 2019 00:04 WIB

DOLLAR Indeks Dolar


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The dollar climbed to two-month peaks on Friday and was on pace for a second straight weekly gain after data showed the world's largest economy slowed at a less-than-expected pace in the second quarter.

The dollar's rise was also helped by widening yield differentials between U.S. and German debt. Spreads were holding at two-month highs at 249 basis points. Investors were disappointed by a lack of policy action from the European Central Bank at a meeting on Thursday.

In midmorning trading, the dollar index was up 0.23% at 98.904, after earlier hitting its highest level since late May.

The dollar index hit its high of session, right after NEC director Larry Kudlow told CNBC there would be no dollar intervention.

In other currencies, the euro was down 0.2% at $1.1127, recovering from a two-month low of $1.1102 after the ECB decision on Thursday.

Source : Reuters


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