Dollar rises as ISM services index bodes well for GDP growth

The dollar strengthened Wednesday after a widely watched report from the Institute for Supply Management showed economic growth has already accelerated in the third quarter.

The ICE U.S. Dollar Index DXY, +0.18%  was up 0.5% at 95.5580 as the buck made gains against the euro. The shared currency EURUSD, -0.1525%  tumbled to $1.1148 late Wednesday in New York, compared with $1.1219 late Tuesday in New York. The dollar USDJPY, +0.27%  gained 0.1% to ¥101.16 late Wednesday, compared with ¥101.09 late Tuesday.

The pound EURUSD, -0.1525%  weakened to $1.3312 late Wednesday as investors awaited Thursday’s Bank of England meeting and the central bank’s quarterly inflation report. By comparison, it traded at $1.3344 late Tuesday.

Click here for Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my