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Weak U.S. Data Ends The Dollar's Safe-Haven Rally
Thursday, 30 January 2020 23:35 WIB | CURRENCIES |Dolar AS Indeks DolarDOLLAR

The U.S. dollar fell on Thursday on news that the American economy posted its slowest annual growth in three years in 2019 and personal consumption weakened dramatically, ending the currency's rally on safe-haven demand from investors nervous about the economic fallout of the coronavirus.

The dollar index had gained 0.65% in the last two weeks as investor sold off risk assets on coronavirus fears. Those fears persisted on Thursday morning, boosting the Japanese yen and Swiss franc, but the U.S. economic data was bleak enough to depress the dollar's safe-haven appeal. The index was last trading down 0.18% on the day at 97.818.

The American economy missed the Trump administration™s 3% growth target for a second straight year as the slump in business investment deepened amid damaging trade tensions, the Commerce Department reported on Thursday.

Source : Reuters

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