Forex Market Update : Epic Research Singapore

The dollar fell against the euro Wednesday after data showed the U.S. economy shrank by 2.9% in the first quarter.

The euro EURUSD +0.03%   rose to $1.3631 from $1.3604 late Tuesday. That’s the highest level since June 6, according to FactSet.

The dollar USDJPY -0.11%   inched down to ¥101.87 from ¥101.93 late Tuesday. The dollar hit an intraday low in the wake of weak U.S. economic data. The pound GBPUSD +0.03%   gave up post-data gains in recent trade, trading at $1.6983 versus $1.6987.

The ICE dollar index DXY -0.02%  , which pits the dollar against six other currencies, fell to 80.210 from 80.311 late in the prior session.

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