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Dollar index holds around 108 mark amid acceleration in US ecomomic growth
20-Dec-2024   12:47 Hrs IST
The US dollar index stayed well supported, consolidating around 108 mark and holding around two year highs as a recent uptick in treasury yields and steady economic trends kept sentiments positive for the US currency. The Commerce Department released a report on Thursday showing the pace of U.S. economic growth surged by more than previously estimated in the third quarter. The report said gross domestic product shot up by 3.1 percent in the third quarter, reflecting an upward revision from the 2.8 percent jump previously reported. With the upward revision, the GDP growth in the third quarter now reflects a modest acceleration from the 3.0 percent surge in the second quarter. The slightly faster GDP growth in the third quarter primarily reflected accelerations in exports, consumer spending, and federal government spending.

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