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U.S. Dollar Lower after Revised U.S. Growth Figures

The dollar languished near one-month lows against a basket of major currencies early on Thursday, having been knocked back hard after revised U.S. growth figures for the first quarter came in shockingly weak.

The dollar index fell as far as 80.091, a low not seen since May 22, as investors reacted negatively to data that showed the U.S. economy contracted at a 2.9 percent annualized pace, the sharpest decline in five years.

The result was far worse than anyone had expected and sent the benchmark U.S. 10-year yield skidding to a three-week low of 2.529 percent. It has since recovered to 2.561 percent.

CNBC [1]

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