Dollar pulls away

On Monday, the evergreen buck pulled away from minimums it achieved following gloomy American growth figures late the previous week, while the Japanese yen pared some of the huge revenues generated after the BOJ disclosed a much smaller stimulus than it was actually expected.   

The dollar index, normally tracking the major American currency against a basket of key six counterparts, grew 0.1% being worth 95.578, thus rebounding from its Friday minimum of 95.384, its lowest value since July 5.

American GDP edged up at an annual 1.2% during April-June,and  Commerce Department figures unveiled on Friday, demonstrated a slight drift from the 2.6% surge forecast by financial experts surveyed by Reuters.

The greenback’s  advance was blocked in its tracks by the downbeat Q2 GDP figures.

The dollar index's next immediate technical target hit 94.75, as market speculation of an approaching interest rate lift keeps fading.

The FOMC statement earlier this week didn’t leave the impression that a September rate lift was quite probable and with mediocre growth numbers, the odds kept downgrading further.

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