Investing.com | Jan 18, 2018 10:18
Investing.com - The dollar remained moderately lower against other major currencies on Thursday, as investors remained cautious ahead of a flurry of U.S. economic reports due later in the day.
The dollar has been pressured lower recently by concerns the global economic recovery will outpace U.S. growth and prompt other major central banks, including the European Central Bank to begin unwinding loose monetary policy at a faster pace.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at 90.51 by 05:15 a.m. ET (09:15 GMT), off the previous session's fresh three-year trough of 89.97.
The euro has strengthened broadly since last week's minutes of the ECB’s December meeting boosted expectations that policymakers are preparing to wind down their bond buying stimulus program.
Data earlier showed that China’s economy grew at a faster than expected pace in the fourth quarter, helped by strong export growth and a rebound in the industrial sector.
China is Australia's biggest export partner and New Zealand's second biggest export partner.
Meanwhile, USD/CAD was almost unchanged at 1.2438.
Written By: Investing.com
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