FRX: US Dollar Strengthens on GDP and Manufacturing Expansion
The US dollar strengthened today on reports showing an expansion in the US GDP and manufacturing. The Korean conflict and the European sovereign debt crisis woes added to the Greenback’s strength. The preliminary US GDP report showed that the economy expanded 2.5 percent during the third quarter of 2010, surpassing the analysts’ expectations of a 2.3 percent growth.
EUR/USD traded around 1.3396 at about 1:13 GMT, slumping from yesterday’s session opening of 1.3626. GBP/USD traded at 1.5812, declining from yesterday’s opening level of 1.5954.
