TOKYO: The dollar held agency at begin of holiday-thinned week on Monday after US data pointed to stable financial progress whereas the British pou
A batch of financial knowledge revealed on Friday confirmed the US economic system, already in its longest enlargement in historical past, seems to have maintained the average tempo of progress because the yr ended, supported by a robust labour market.
Gross home product elevated at a 2.1 per cent annualised price, the Commerce Division stated in its third estimate of third-quarter GDP. That was unrevised from November’s estimate.
“The US economic system seems to have stopped slowing. There is no such thing as a indication it is going to be hitting a recession,” stated Ayako Sera, market economist at Sumitomo Mitsui Belief Financial institution.
Earlier this yr, buyers had been spooked by worry of a US recession when the US yield curve inverted, which has been traditionally one of the crucial dependable indicators of a US recession.
Separate knowledge confirmed client spending, which accounts for greater than two-thirds of US financial exercise, rose 0.four per cent final month as households stepped up purchases of motor autos and spent extra on healthcare.
That contrasted with an sudden deterioration in German client sentiment.
The euro stood at $1.10775, in retreat because it hit a four-month excessive of $1.12…