USD Keeps Its Strength Before the Holidays, the Euro Falls

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The USD maintained its gains against major currencies at the end of last week, with expectations that the trading volume will remain high at the end of the year. The dollar also benefited from economic data released on Tuesday, which showed the US economy grew by 3.2% in the Q3 of 2017. This rate is one of the most stable rates of progress in more than two years.

The dollar index, which measures the strength of the greenback versus the other major currencies, rose 0.11% and traded at 93 points. In the UK’s GDP rose by 0.04% in Q3, in line with analysts’ expectations. However, the UK’s current account deficit was only $22.8 billion in the Q3 of this year, after it was estimated to $25.8 billion at the end of June.

The USD fell at the end of last week after the official announcement in Spain of the province of “Catalonia, raising a number of European concerns about the possibility of a split in the Spanish economy, which is the fourth largest economy in the euro area.

The euro fell 0.4% against the dollar, trading at $1.1817 per euro. But the euro received some support  at the opening of European markets on Friday, backed by economic data as the German consumer climate index released stable and according to expectations, and the French consumer spending index was stronger than expected, helping the unique European currency to trade above $1.18.

Finally, the Japanese Yen and the Swiss Franc traded with minor changes against the Dollar. The USD / JPY pair traded at 113.36 yen per dollar, while the USD / CHF traded at 0.9889 francs per dollar. The Australian dollar remained fairly high against the dollar to trade at 0.7709.

The New Zealand dollar remained stable against the USD, with the pair trading at 0.7015. The greenback was down 0.15% against the CAD at 1.2722.


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