Dollar edges higher ahead of U.S. GDP data @ Forex Factory

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Dollar edges higher ahead of U.S. GDP data

The U.S. dollar was higher versus most major counterparts other than the Japanese yen Friday as investors' appetite for risk remained subdued ahead of the first official estimate of second-quarter U.S. economic growth. Risk appetite took a hit from weak Japanese economic data, remarks by St. Louis Federal Reserve Bank President James Bullard, who warned that the U.S. economy was in danger of copying Japan's deflationary "lost decade"; and fears that gross-domestic-product data will show a slowdown in U.S. growth, analysts said. Economists expect GDP growth of 2.5%, slowing from 2.7% in the first quarter. The Commerce Department will release the data at 8:30 a.m. Eastern.... Full Story

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