The US Dollar Index fell just shy of a 13-month peak in Asian trading on Friday. The Index, which FX traders use to gauge the greenback's relative strength, was just off a 13-month peak at 95.652 .DXY. At the same time, the greenback's major peers, including the Euro and the Pound, are now just regaining ground despite concerns over protectionist policies and the Brexit negotiations.
As reported at 11:45 am (JST) in Tokyo, the USD/JPY was trading at 110.945 Yen, down 0.14%; the pair has ranged from a low of 110.848 Yen to 111.170 Yen. The GBP/USD was trading at $1.2833, up 0.04% while the EUR/USD was $1.1533, up 0.05%.
Friday's Key Data Points
Later today, markets will turn their attention to the release of preliminary 2nd quarter GDP figures for the UK economy. Currently, economists are predicting a rise to 0.04% from 0.02% (quarter-over-quarter). Manufacturing and industrial productions figures are also going to be announced; analysts are calling for a slight decline in manufacturing to 1.0% from 1.1% (year-over-year), and a rise in industrial production (month-over-month) to 0.4% from -0.4%. In the US, Core CPI data for July (year-over-year) is expected to be flat at 2.3%.