Dollar Advances on Back of Stronger-Than-Expected GDP, Jobs Data
- Trump N. Korea tweet, S&P on debt limit restrain dollar gains
- Traders look to monthly inflation data Thursday for direction
TD's McCormick Sees 3-4 Percent Rally in U.S. Dollar
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The dollar gained on the back of robust U.S. economic data, posting a second consecutive increase for just the first time in two weeks.
The greenback rose against all of its G-10 peers save the British pound, and pushed euro-dollar below 1.1900. The dollar recouped a brief dip seen after a tweet on North Korea from U.S. President Trump and a cautionary report on the debt limit from S&P. Trump tweeted that “talking is not the answer” to North Korea’s missile threats; his defense chief later said the U.S. hasn’t exhausted its diplomatic options. S&P said a failure to raise the U.S. debt limit would be more catastrophic than the 2008 collapse of Lehman Brothers.