Key Points
NEW YORK (Reuters) -The U.S. dollar was modestly higher against a basket of currencies on Thursday after data showed the U.S. economy grew at its fastest pace in nearly two years in the third quarter, once again defying dire warnings of a recession that have lingered since 2022...
The GDP numbers follow business activity data earlier this week that highlighted the strength of the U.S. economy relative to the United Kingdom and the European Union...
The strong Q3 GDP result reinforces the market tension between good data on the one hand and the prospect of higher rates and a more restrictive Fed on the other, Brian Rose, senior U.S. economist at UBS, said in a note...
The Japanese yen weakened to hit a fresh one-year low of 150.78 per dollar and was not far off the 32-year low of 151.94 it touched in October last year, which led to Japanese authorities intervening in the currency market...
The head of Australias central bank on Thursday said the surprisingly high reading for Australian inflation on Wednesday was around policymakers expectations, and they were still considering whether it would warrant a rate rise.. In cryptocurrencies, bitcoin was down 1.2% at $34,084..
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