The dollar hovered near a two-year high against its peers on Friday, supported b...
TOKYO - The dollar hovered near a two-year high against its peers on Friday, supported by strong U.S. capital goods orders and awaiting first-quarter GDP data which could further reinforce the greenback’s bullish standing.
Data on Thursday showed new orders for U.S.-made capital goods increased by the most in eight months in March. That follows other recent U.S. data that show strength in retail sales and exports which have eased concerns of the world’s biggest economy sharply slowing. “We expect the GDP data to underline steady economic recovery. Differences in economic fundamentals is a key driver for currencies now that the Fed - and more recently the Swedish and Japanese central banks - have adopted a dovish stance,” said Shin Kadota, senior strategist at Barclays in Tokyo.
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