Dollar jumps as GDP report enhances rate-hike expectation

The dollar bounced higher against its main rivals Thursday on news that the U.S. economy picked up modestly in the spring, expanding at an annual 2.3% rate in the second quarter.

The buck USDJPY, -0.17%  advanced to ¥124.12 in late Thursday trade, its highest since July 21, up from ¥123.94 late Wednesday in New York. The dollar EURUSD, +0.1281%  also strengthened against the euro, which fell to $1.0933 from $1.0986 in New York overnight.

The WSJ Dollar Index BUXX, -0.12% a measure of the dollar against a basket of 16 major currencies, was up 0.32% at 88.68, while the ICE dollar index DXY, -0.14% which measures the dollar against six rivals, tacked on 0.3% to 97.49.

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