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The dollar was near the highest in almost eight weeks against major peers amid prospects jobs numbers will add to indicators of stronger economic growth, prompting the Federal Reserve to further taper stimulus at a meeting that concludes today.
The Bloomberg Dollar Spot Index gained the most in six weeks yesterday, rising above its 200-day moving average, before data today forecast to show the U.S. economy rebounded last quarter. The Commerce Department will say today that U.S. gross domestic product climbed an annualized 3 percent last quarter, rebounding from a 2.9 percent contraction in the prior three months. That would indicate the fastest pace of growth for the world's biggest economy since the quarter ended September 2013.
The euro was near an eight-month low after German benchmark yields dropped to a record as the European Union and U.S. increased sanctions against Russia. Germany is forecast to report today that inflation slowed this month. German consumer price inflation moderated to 0.8 percent in July compared with a year earlier, from 1 percent in June, economists predicted before a report today.
EUR / USD: during the Asian session, the pair traded in the range of $ 1.3410-15
GBP / USD: during the Asian session, the pair traded in the range of $ 1.6945-55
USD / JPY: on Asian session the pair traded in the range of Y102.05-15
A light UK calendar today with most attention on US ADP (ahead of Friday's NFP), US Q2 GDP and tonight's FOMC announcement. Ahead of this the market will turn focus on Germany CPI state/national releases.
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