FX : Dollar strengthens further against EUR and GBP after U.S. data
U.S. Personal Spending rose 1.3% in August, above the 1.1% increase expected by market analysts, and the largest advance since May 2008. Personal Income rose a more modest o.2%, while the Core Personal Consumption expenditures prices Index rose 1.3% following a 1.4% advance in July, suggesting that Inflation remains at moderate levels.
Furthermore, U.S. Initial jobless claims rose by 17K to 551K in the week of September the 26th, a somewhat larger increase than the 5K forecasted by market analysts.
EUR/USD decline from 1.4670 intra-day high has extended lower on the back of U.S data, and the Pair has dipped below 1.4550 to hit a fresh 2-week low at 1.4518.
GBP/USD has hold quite better, although the pair's decline from 1.6025 high has extended to 1.5950, yet abve intra-day low at 1.5925. At the moment, the Pound trades at 1.5965.
