US Dollar Gains Following Strongest US GDP in Seven Years, Japanese Yen Up as Equities Remain Under Pressure
• Canadian Dollar Mostly Stronger as Canadian GDP Rises for Third Month
• Australian Dollar Down with Commodities – RBA Expected to Raise Rates Next Week
• British Pound Down Despite Jump in UK House Prices – BOE May End Quantitative Easing
• Euro Mixed as Euro-zone CPI Rises Less Than Expected, Unemployment Climbs
Euro, British Pound Remain Little Changed Ahead of U.S. 4Q GDP
The British Pound is little changed from the previous day and continued to hold the broad range carried over from the previous, but we may see the GBP/USD face increased volatility going into the North American trade as investors wait for the U.S. advanced 4Q GDP report due out at 13:30 GMT.
Currency Markets Locked in Risk-Driven Trade, Looking Ahead to US GDP
The US Dollar and Japanese Yen rose against the spectrum of major currencies while stocks tumbled as risk aversion continued to dominate currency markets. Traders are likely to overlook European event risk, looking ahead to fourth quarter US GDP results.