Fx-Dollar hits two-thirty day period substantial just after U.S. growth info – Reuters
* U.S. GDP rises two.one% in Q2, improved than predicted * Facts does not alter Fed expectation for a level minimize up coming week * Graphic: Planet Forex prices in 2019 tmsnrt.rs/2egbfVh (Recasts, adds remark, Forex table, U.S. GDP info, updates price ranges, alterations byline, dateline former LONDON) By Gertrude Chavez-Dreyfuss NEW YORK, July 26 (Reuters) - The dollar climbed to two-thirty day period peaks on Friday and was on speed for a second straight weekly get just after info confirmed the world's most significant economic climate slowed at a a lot less-than-predicted speed in the second quarter. The dollar's rise was also assisted by widening yield differentials involving U.S. and German personal debt. Spreads have been holding at two-thirty day period highs at 249 foundation points. Investors have been let down by a deficiency of coverage action from the European Central Lender at a assembly on Thursday. Their focus will now shift to a Federal Reserve assembly up coming week, the place policymakers are predicted to minimize desire prices by a quarter of a percentage issue. A improved-than-predicted U.S. gross domestic item report for the second quarter is not possible to alter the Fed's way of thinking, analysts said. Facts confirmed U.S. GDP grew at a two.one% annualized level in the second quarter. The economic climate highly developed at an unrevised 3.one% speed in the 1st quarter. Economists polled by Reuters experienced forecast GDP growing at just a one.eight% level in the second quarter. "You keep on to see this topic that the U.S. is developing properly, improved than most G7 economies, steady with dollar strength that we are looking at on the back of this," said Erik Nelson, forex strategist at Wells Fargo Securities in New York. "I will not imagine it alterations all that significantly for the Fed up coming week. We still hope a twenty five foundation-issue minimize at the assembly," he included. In midmorning trading, the dollar index was up .one% at ninety seven.927, just after before hitting its greatest level due to the fact late May well. The greenback was minimal altered versus the yen at 108.sixty six yen. Steve Blitz, main U.S. economist at TS Lombard, thinks that with the GDP info, Fed Chairman Jerome Powell would have a challenging time convincing the hawks on the Federal Open up Sector Committee of the need to have for a swift fifty foundation-issue minimize. "So here is the Fed, confronted with total growth at trend designed by the combination of a slowing business sector yet still robust usage — a functionality of stable if slower employment growth and a robust stock market place," Blitz said. In other currencies, the euro was down .two% at $one.1127, recovering from a two-thirty day period minimal of $one.1102 just after the ECB conclusion on Thursday. For the week, the one forex is down .eight%. Following the ECB session, President Mario Draghi indicated the bank was organized to minimize prices at its up coming assembly, in September, and contemplate other possibilities for easing. Sterling, in the meantime, slipped .two% to $one.2425 and was on system for a .6% weekly loss. Cable has stabilized due to the fact Boris Johnson grew to become Britain's new prime minister, but uncertainty continues to be about the country's negotiations to go away the European Union. ======================================================== Forex bid price ranges at nine:56AM (1356 GMT) Description RIC Final U.S. Close Pct Improve YTD Pct Higher Bid Reduced Bid Former Improve Session Euro/Dollar EUR= $one.1128 $one.1145 -.fifteen% -two.ninety seven% +one.1150 +one.1126 Dollar/Yen JPY= 108.6600 108.6200 +.04% -one.forty five% +108.8200 +108.5700 Euro/Yen EURJPY= one hundred twenty.93 121.09 -.13% -four.19% +121.1900 +one hundred twenty.9200 Dollar/Swiss CHF= .9935 .9906 +.29% +one.23% +.9937 +.9901 Sterling/Dollar GBP= one.2406 one.2454 -.39% -two.75% +one.2462 +one.2408 Dollar/Canadian CAD= one.3186 one.3161 +.19% -3.31% +one.3193 +one.3157 Australian/Doll AUD= .6915 .6950 -.fifty% -one.ninety% +.6955 +.6917 ar Euro/Swiss EURCHF= one.1059 one.1042 +.fifteen% -one.seventy three% +one.1061 +one.1038 Euro/Sterling EURGBP= .8970 .8950 +.22% -.16% +.8970 +.8948 NZ Dollar/Dolar NZD= .6633 .6662 -.44% -one.twenty five% +.6669 +.6635 Dollar/Norway NOK= eight.7086 eight.6725 +.42% +.81% +eight.7162 +eight.6742 Euro/Norway EURNOK= nine.6919 nine.6707 +.22% -two.16% +nine.7101 +nine.6683 Dollar/Sweden SEK= nine.4732 nine.4475 +.09% +five.sixty eight% +nine.4863 +nine.4453 Euro/Sweden EURSEK= 10.5443 10.5343 +.09% +two.seventy three% +10.5637 +10.5277 (Reporting by Gertrude Chavez-Dreyfuss Additional reporting by Saikat Chatterjee in London Editing by Nick Zieminski)
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