Dollar gains on bets European Central Bank could weaken euro, strong United States data

Dollar gains on bets European Central Bank could weaken euro, strong United States data

Dollar gains on bets European Central Bank could weaken euro, strong United States data

The US Commerce Department reported Wednesday the world's largest economy expanded a forecast-beating three percent in the second quarter.

"So higher inflation data goes counter to the markets' expectations and you would expect more of a reaction as it would be more of a worry to investors".

Hurricane Harvey continues to leave a nasty footprint devastating Southeast Texas, and the Louisiana coastal communities while weighing negatively on crude demand from the heart of the USA petroleum refining industry.

European stocks are likely to open higher on Wednesday as tensions around North Korea ebbed somewhat and the fiercest hurricane to hit the U.S. in 13 years finally began to move away from Houston.

The dollar, which rose on speculation that the European Central Bank could step in to weaken the euro, also was helped by the strong data.

Harvick Takes Poll, Hamlin Wins Xfinity Race
Hamlin would pass Joey Logano , then Logano would pass Hamlin back in the closing laps. "It worked out well", said Hamlin. It was Hamlin's fifth Xfinity victory at Darlington , all with him starting from the pole position.

"The dollar rose 0.4 percent against the pound, forcing it below $1.29, and 0.3 percent against the euro, leaving the currency under $1.19 despite a jump in eurozone inflation".

The dollar hit a four-month low against the yen on Tuesday after North Korea fired a missile that passed over northern Japan, the latest act of provocation by Pyongyang that has ramped up global tensions.

"The ECB meeting is coming up next week and there are rising risks of verbal intervention from Mario Draghi", said Deutsche Bank strategist George Saravelos.

The dollar index.DXY, which measures the greenback against a basket of six major currencies, was 0.54 percent higher at 92.747.

Separately, Secretary of State Rex Tillerson reaffirmed USA support for its allies and said the U.S. will explore every diplomatic and economic option first to increase pressure on North Korea.

Lewis Hamilton: "There was a lot of pressure for that last lap"
All of which would have been enough to grab the attention but behind him everyone, it seemed, wanted their time on centre stage. From my auto , I don't know about the other vehicle , but I struggle a lot with the grip. "He is really a great driver".

USA stocks on Tuesday rose as investors brushed aside the threat of a conflict with North Korea.

Also on the radar is Trump's first speech specifically on tax policy later in the day.

The Dow rose 0.12 percent, while the S&P 500 gained 0.46 percent and the Nasdaq 1.05 percent.

Investors piled back into European stocks on Wednesday, boosting indexes in a relief rally a day after geopolitical concerns caused a sharp dip across equity markets. U.S. gasoline futures jumped while oil prices eased as refinery shutdowns in the wake of Hurricane Harvey reduced demand for American crude. USA crude CLc1 was down 38 cents to $46.06.

Brent oil LCOc1 , the worldwide benchmark for crude trading, was down $1.08 at $50.92 a barrel.

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Mourinho was named alongside David James as the goalkeepers for Shearer's side and was in the dressing room before the match. You can buy tickets directly through QPR's official site, with tickets costing £15 for adults and £5 for children.

The dollar pushed higher against the Swiss franc, with USD/CHF rising 0.46% to 0.9598, well above Tuesday's two-year trough of 0.9428.

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