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Dollar Steady; Euro Recovers from Italy Shock; U.K. GDP Eyed


Friday, 9 August 2019 15:10 WIB

EuroDolar AS


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The dollar was mixed within relatively narrow ranges Friday at the start of European trading, after the Chinese yuan defied some weak factory gate inflation data to end the week on a stable note.

By 3:30 AM ET (0730 GMT), the euro was at $1.1188, up 0.2% from overnight lows. It was relatively unmoved by data for French industrial production in June, which fell by a greater-than-expected 2.3%, consistent with the dismal pattern in neighboring Germany.

The British pound remained under pressure ahead of second-quarter gross domestic product figures, which are due at 0830 GMT. Prime Minister Boris Johnson was reported on Thursday to be planning a general election in early November, days after the country’s scheduled departure from the EU.

The dollar index, which tracks the greenback against a basket of currencies, was effectively unchanged at 97.403.

Source: Investing


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