Dollar index flat after US GDP revised lower

Posted On 23 Dec 2015

Tag: USD

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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