{"id":133790,"date":"2021-07-29T15:45:01","date_gmt":"2021-07-29T15:45:01","guid":{"rendered":"https:\/\/precoinnews.com\/?p=133790"},"modified":"2021-07-29T15:45:01","modified_gmt":"2021-07-29T15:45:01","slug":"dollar-at-1-month-low-after-fed-knock-u-s-data-disappoints","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/dollar-at-1-month-low-after-fed-knock-u-s-data-disappoints\/","title":{"rendered":"Dollar at 1-month low after Fed knock; U.S. data disappoints"},"content":{"rendered":"<p>NEW YORK (Reuters) &#8211; The dollar slipped to a one-month low on Thursday, a day after the U.S. Federal Reserve\u2019s reassurance that interest rate hikes remain distant helped put the brakes on the U.S. currency, which has been rallying for a month now.<\/p><figcaption>A packet  of former U.S. President Abraham Lincoln five-dollar bill currency is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS\/Gary Cameron\/Files<\/figcaption><p>The dollar index, which measures the greenback against a basket of six other currencies, was 0.3% lower at 92.005, its lowest since June 29.<\/p>\n<p>The index, which is up 1.6% since the Fed\u2019s June meeting, after a hawkish shift from the U.S. central bank, found little support from U.S. data on Thursday.<\/p>\n<p>Data on Thursday showed that while the U.S. economy grew solidly in the second quarter, boosted by massive government aid, growth fell short of economists\u2019 expectations.<\/p>\n<p>Gross domestic product increased at a 6.5% annualised rate last quarter, the Commerce Department said on Thursday. Economists polled by Reuters had forecast GDP rising at an 8.5% rate last quarter.<\/p>\n<p>\u201cWith the dollar already under pressure today as the risk environment stabilises and markets embrace the dovish rhetoric from Fed Chair (Jerome) Powell yesterday, the near 2 percentage point miss in Q2 GDP did little to relieve the greenback,\u201d said Simon Harvey, senior FX market analyst at Monex Europe.<\/p>\n<p>U.S. Treasury yields trended lower after Wednesday\u2019s Fed statement, with inflation-adjusted real yields tumbling to a new low, weighing on the U.S. currency.<\/p>\n<p>Graphic: The real deal:<\/p>\n<p>The market took Wednesday\u2019s Fed announcement as a positive for risk as it leaves the lower rates for longer scenario intact, Brad Bechtel, global head of FX at Jefferies, said in a note.<\/p>\n<p>\u201cCombined with soothing commentary from Chinese officials on what their intentions are regarding IPOs in the US and this regulatory crackdown they embarked on and markets were set up for a nice little rally last night,\u201d Bechtel said.<\/p>\n<p>China stepped up attempts to calm frayed investor nerves after a wild markets rout this week by telling foreign brokerages not to \u201coverinterpret\u201d its latest regulatory actions.<\/p>\n<p>The Australian and New Zealand dollars, reliant on world and Chinese economic growth, edged higher, though the Aussie\u2019s gains were capped by concerns a lengthening COVID-19 lockdown in Sydney would drag on the Australian economy.<\/p>\n<p>The U.S. dollar\u2019s weaker tone and a fall in coronavirus cases in Britain, helped lift the British pound to its highest in over a month against the dollar.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/global-forex\/forex-dollar-at-1-month-low-after-fed-knock-u-s-data-disappoints-idUSL1N2P5175\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) &#8211; The dollar slipped<\/p>\n","protected":false},"author":3,"featured_media":133789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dollar at 1-month low after Fed knock; U.S. data disappoints - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/dollar-at-1-month-low-after-fed-knock-u-s-data-disappoints\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar at 1-month low after Fed knock; U.S. data disappoints - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) &#8211; 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