ZCZC
BCN-14
US-FOREX
U.S. dollar falls alongside sliding sterling
NEW YORK, Aug. 10, 2019 (BSS/Xinhua) – The U.S. dollar pulled back on
Friday, along with a weakening British pound, as investors digested Britain’s
slowing gross domestic product (GDP) growth in the second quarter (Q2).
The dollar index, which measures the greenback against six major peers,
decreased 0.13 percent at 97.4958 in late trading.
In late New York trading, the euro increased to 1.1207 U.S. dollars from
1.1186 dollars in the previous session, and the British pound decreased to
1.2055 dollars from 1.2133 dollars in the previous session. The Australian
dollar fell to 0.6791 dollar from 0.6805 dollar.
The U.S. dollar bought 105.57 Japanese yen, lower than 105.97 Japanese yen
of the previous session. The U.S. dollar fell to 0.9722 Swiss franc from
0.9751 Swiss franc, and it decreased to 1.3208 Canadian dollars from 1.3239
Canadian dollars.
British GDP contracted by 0.2 percent in Q2 compared with the first
quarter, figures released Friday by the Office for National Statistics (ONS)
showed.
This is the biggest fall and the first contraction for Britain’s economic
growth since 2012. The reading is also weaker than market expectations and
the latest Bank of England forecast of a flat Q2.
According to the ONS, the volatility in the first half of 2019 largely
reflected changes in the timing of activity related to the UK’s original
planned Brexit date in late-March.
BSS/XINHUA/HR/1400