BLBG: Dollar Falls Versus Euro as GDP Growth Trails Previous Estimate
By Oliver Biggadike
Dec. 22 (Bloomberg) -- The dollar declined against the euro and pared its gain versus the yen as the 2.2 percent increase in U.S. gross domestic product trailed the government’s previous estimate of a 2.8 percent gain.
“Obviously, you want the fundamentals to come back to be the ultimate drivers of currencies, and you’re starting to see a tug of war with the data,” said Brian Kim, a currency strategist at UBS AG in Stamford, Connecticut.
The dollar slid 0.3 percent to $1.4313 per euro at 8:42 a.m. in New York, from $1.4275 yesterday.
To contact the reporter on this story: Oliver Biggadike in New York at obiggadike@bloomberg.net
