Forex Market Update : Epic Research Singapore

The dollar weakened against the euro Thursday, trimming gains scored a day earlier, after data showed the U.S. economy grew more slowly than forecast in the third quarter.

The shared currency EURUSD, +0.0547%  traded at $1.0975, up 0.5% from $1.0905 late Wednesday in New York.

But the dollar’s declines were muted against most rivals as the data did little to shift investors’ views about the timing of the next Federal Reserve interest-rate hike.

The ICE U.S. Dollar Index DXY, +0.01%  , a measure of the dollar’s strength against a basket of six rivals, was down 0.5% to 97.261.

The dollar USDJPY, -0.18%  traded at ¥121.0890 after the data, little-changed from its late-Wednesday level. The pound GBPUSD, +0.0718%  strengthened to $1.5315, up 0.3% from $1.5266 late Wednesday.

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