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Dollar lower ahead of U.S. GDP

Published 07/28/2017, 05:39 AM
Updated 07/28/2017, 05:39 AM

Investing.com - The dollar remained in the doldrums Friday ahead of the release of U.S. second-quarter GDP data.
The dollar index was off 0.17% at 93.61 at 05:00 ET after a low of 93.54.
U.S. economic growth is forecast to have picked up to 2.6% in the second quarter after an anemic 1.4% in the first.
The FOMC statement Wednesday depressed the outlook for further tightening by the Fed.
Investors also noted the U.S. Senate blocking a bill on repealing current healthcare legislation.
That leaves the Trump administration's economic agenda stuck in political gridlock.
The dollar was weaker against most other major currencies.
The euro regained the $1.17 mark, with the ECB expected to begin withdrawing accommodation sooner rather than later.
The (pound) was steady below the $1.31 mark after a slowdown in the U.K. economy in the second quarter.
The dollar also fell against the yen and was trading at the low-111 mark.

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