Dollar index flat after US GDP revised lower

Major currency pairs traded in tight ranges during Wednesday’s Asian session as markets are winding down ahead of the Christmas holidays on Friday. Markets in Japan were closed for a public holiday, which also contributed to light trading volumes.

The Australian dollar was flat at $0.7238. The New Zealand dollar was up 0.1 per cent at $0.6814, buoyed by data showing the nation’s trade deficit narrowed from NZ$905m in October to NZ$779m in November.

The Japanese yen was 0.1 per cent stronger at Y121 per dollar, while the euro was 0.1 per cent weaker at $1.0943.

The dollar index, a measure of the US currency against a basket of global peers, was flat at 98.253 after softening on Tuesday even before the release of the US economic data. US third-quarter gross domestic product was revised 0.1 percentage point lower to show growth of 2 per cent.

Gold was 0.2 per cent weaker at $1,072.50 an ounce in Asian trade.

Brent was up 0.6 per cent at $36.31 while West Texas Intermediate gained 0.6 per cent to $36.37.

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Source:: Dollar index flat after US GDP revised lower

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