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U.S. Dollar Flat in Holiday-Thin Trade

Investing.com - The greenback was flat on Wednesday in holiday-thinned trade as another round of upbeat earnings continued to push investors towards equities and other riskier assets.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was flat at 96.662 as of 10:23 AM ET (14:23 GMT).

Trading is expected to be thin for the rest of the week, as U.S. markets close on Friday for the Easter holiday.

Earlier data in China had helped lift the dollar, as gross domestic product grew 6.4% in the first quarter from a year earlier, suggesting the economy is not slowing down like initially feared.

The Chinese yuan rose, with USD/CNY down 0.3% to $6.6884.

The dollar was mostly flat against the safe-haven yen, with USD/JPY slipping 0.01% to 111.97.

Sterling inched down as the U.K. parliament is on recess and no progress on Brexit can be made before next week. GBP/USD fell 0.05% to 1.3039.

Elsewhere, USD/CAD fell 0.2% to 1.3329 after a surprise jump in core inflation suggested the economy could be tighter than the Bank of Canada thought.

In Europe, EUR/USD gained 0.2% to 1.1294 after European Central Bank governing council member Ewald Nowotny said the bank is unlikely to cut its June forecast as it waits for the euro zone economy to stabilize in the second half of the year.

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