U.S. dollar rises on upbeat data

The U.S. dollar climbed against most major currencies on Friday as economic growth data from the country came out positive.

U.S. real gross domestic product (GDP) increased at an annual rate of 3 percent in the third quarter of 2017, beating market consensus of 2.5 percent, according to the advance estimate released by the Commerce Department Friday. In the second quarter, real GDP increased 3.1 percent.

The increase in real GDP in the third quarter reflected positive contributions from personal consumption expenditures, private inventory investment, nonresidential fixed investment, exports, and federal government spending, said the department.

The dollar index, which measures the greenback against six major peers, was up 0.33 percent at 94.925 in late trading.

In late New York trading, the euro fell to 1.1596 U.S. dollars from 1.1668 U.S. dollars, and the British pound declined to 1.3125 U.S. dollars from 1.3165 U.S. dollars. The Australian dollar decreased to 0.7667 U.S. dollar from 0.7674 U.S. dollar.

The U.S. dollar bought 113.84 Japanese yen, lower than 113.93 yen of the previous session. The U.S. dollar gained to 0.9986 Swiss franc from 0.9967 Swiss franc, and it edged up to 1.2861 Canadian dollars from 1.2839 Canadian dollars.

Source: Xinhua

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