The U.S. dollar slid within the upper
At noon, the dollar fetched
The euro was quoted at
Broad dollar-positive expectations for U.S. economic recovery and policy tightening by the Federal Reserve had not changed, but a combination of factors were bringing the U.S. currency down slightly in
Ahead of the U.S. GDP data, "We're seeing dollar selling amid caution in case the GDP ends up being revised down," Sakai said.
A drop in U.S. Treasury bond yields also weighed on the dollar-yen pair, as well as a leap in the Australian dollar on surprisingly strong business spending data, and position adjustment ahead of the month's end.
The euro gained some ground against the dollar and held firm against the yen as
"But despite this adjustment I can't imagine the euro will be aggressively bought from now, as expectations are still high that the ECB will further ease monetary policy at some point to ward off deflation," Sakai said.
With German inflation data out later Thursday serving as a bellwether of the eurozone figures, "there could be euro selling as soon as the German data are out if they are significantly weak," Sakai added.
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