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Session Recap: USD takes a breather


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FXStreet (Córdoba) – The dollar took a breather on Friday following yesterday’s rally, although it managed to extend gains versus the yen and the franc following US GDP revision. The second estimate for US 4Q GDP came in at 2.2%, below the first estimate of 2.6% last month, but above expectations for a revision to a 2% increase.

EUR/USD closed the day little changed just below the 1.12 mark after hitting a fresh 1-month low of 1.1175 at the beginning of the session. The pair posted its second weekly loss in a row and remained dangerously close to multi-year lows scored last month.


GBP/USD ended up 0.23% on Friday and managed to hold onto minor weekly gains despite yesterday’s drop.


USD/JPY rose to a 3-day high of 119.79 but stalled a few pips shy of Wednesday’s high. USD/CHF rose to the 0.9545 zone, but the resistance area held after a second test this week.


In the commodity space, oil closed the week just above $50 a barrel, while gold ended up but remained capped by $1220 an ounce.


Elsewhere, stocks closed lower in Wall Street but accomplished monthly gains. The DJIA fell 0.45%, the S&P500 drop 0.30% while the Nasdaq lost 0.49%.


Next week, ECB meeting and US nonfarm payrolls report will be the key events to watch.