The dollar continues to strengthen against its rivals, which have been weakened by dovish statements from central banks.
With many currencies on the defensive, the dollar brushed aside a decline in benchmark US Treasury yields to 15-month lows. Revised GDP growth data was also released, showing that America’s economy grew more slowly than previously thought in the last three months of 2018. Consumer spending was weaker as well, at 2.5% compared to 2.8% estimated before.
It will be interesting to see if the dollar continues to benefit from the slow of global growth in the coming weeks.
Meanwhile, US-China trade talks continue today. U.S. Treasury Secretary Steven Mnuchin tweeted that they have so far been ‘constructive’. It will be interesting to see if any concrete plans materialise to support his positive rhetoric.
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