Investors' Hopes Are Not Over, This Is The Focus For The USD In The New York Session

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 Movements in US dollar trading continued to be limited in the European session amid improved market sentiment.


Against most major currencies, the dollar index, which measures the strength of the greenback, traded weak at 103.85.


Investors are now awaiting the release of the final reading of US gross domestic product (GDP) data for the third quarter.


The US economy is expected to grow better with growth of 2.9% in the July-September quarter, in line with the preliminary reading recorded earlier.


Also in the market's attention is the release of US jobless claims data which is projected to show an increase last week.



While awaiting the publication, investors were first shown the release of the final reading of UK GDP data which showed a deeper than expected contraction in the third quarter.


This caused pound trading to stagnate in the European session after witnessing a 0.3% contraction from the 0.2% expected in the UK economy.


In the meantime, the euro traded little changed at around 1.0640 against the US dollar, maintaining the modest gains recorded in the previous session.


Better performance was shown by commodity-related currencies, with the Aussie, New Zealand and Canadian dollars each posting gains against the US dollar.


The yen remained strong, benefiting from the Bank of Japan's (BOJ) action earlier in the week for policy changes in its bond market.

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