The dollar was mixed on Friday with month-end selling after a recent rally, as traders saw little in weak first-quarter U.S. gross domestic product data to discourage bets the Federal Reserve will start raising interest rates in 2015.
The dollar index was down 0.06 percent but remained on track to a rise for May, resuming a string that began last July of nearly uninterrupted monthly gains for the index of six major currencies traded against the greenback.
“Underlying sentiment remains positive but the dollar is seeing some profit taking and month-end, book-balancing catch-up after its recent advance,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.