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Currencies: Trump boost fades for dollar as investors brace for GDP data

The U.S. dollar was once again under pressure on Friday, as the boost from comments by President Donald Trump on a “stronger and stronger” currency faded. Fourth quarter GDP data, which fell short of the consensus but nevertheless confirmed a continued U.S. economic expansion, led the buck to modestly extend its losses.

What are currencies doing?

The ICE U.S. Dollar Index DXY, -0.48% which measures the greenback against six rival currencies, was last down 0.3% at 89.084, setting it on track for a 1.6% weekly slide. That would be its biggest loss in one week since September last year, according to FactSet data.

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