The U.S. dollar was mostly lower against its major counterparts on
Friday, as investors reacted to data showing the U.S. economy grew less
than expected in the fourth quarter.
The Commerce Department said in a report that the economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, ended the week at 95.00, down 0.01% for the day and 0.33% lower on the week.
The dollar slid lower against the safe haven yen, with USD/JPY down 0.69% to 117.50 in late trade, amid weakness in U.S. equities following the lackluster GDP data.
The Dow Jones fell 251.90 points, or 1.45%, while the S&P 500 declined 26.26 points, or 1.3%.
Meanwhile, the euro was under pressure after data showed that deflation in the single currency bloc deepened in January and amid growing concerns over Greece's future in the euro zone.
Read more Click here / www.trade4x.net
The Commerce Department said in a report that the economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, ended the week at 95.00, down 0.01% for the day and 0.33% lower on the week.
The dollar slid lower against the safe haven yen, with USD/JPY down 0.69% to 117.50 in late trade, amid weakness in U.S. equities following the lackluster GDP data.
The Dow Jones fell 251.90 points, or 1.45%, while the S&P 500 declined 26.26 points, or 1.3%.
Meanwhile, the euro was under pressure after data showed that deflation in the single currency bloc deepened in January and amid growing concerns over Greece's future in the euro zone.
Read more Click here / www.trade4x.net
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