The dollar posted small gains against most other major currencies on Wednesday, with the euro weakening on the back of disappointing French data.
In holiday-thinned trade, the ICE Dollar index DXY, +0.12% rose 0.2% to 98.381, climbing back from a 0.3% drop on Tuesday.
The euro EURUSD, -0.2464% lost ground against the greenback, buying $1.0926, down from $1.0958 late Tuesday in New York.
“French GDP for the third quarter was revised down, and consumer spending is also looking softer, which has led the euro slightly lower against the dollar,” said Will Hedden, senior sales trader at London Capital Group, in a note.
Third-quarter growth domestic product in France was revised down to 1.1% year-over-year, according to FactSet, down from 1.2% previously. Meanwhile, consumer spending in the eurozone’s second-largest economy fell 1.1% in November from October, the largest drop recorded since January 2014.
In the U.K., the pound GBPUSD, +0.3709% trimmed gains after data showed third-quarter GDP expanded 0.4% quarter-on-quarter, less than the 0.5% initially recorded. The pound fetched $1.4839, down from as high as $1.4862 ahead of the data.
In other currencies, the Japanese yen USDJPY, -0.14% was almost flat against the dollar. The dollar bought ¥121.04, compared with ¥121.07 late Tuesday.
