Forex Market: US dollar falls amid rising euro

The US dollar pulled back in late trading on Thursday amid the rising euro, as economic growth in the region notched increases in the third quarter. In late New York trading, the euro increased to $1.1145 from $1.1124 in the previous session, and the British pound was up to $1.2938 from $1.2887 in the previous session. The Australian dollar increased to $0.6886 from $0.6876, Xinhua reported.

The US dollar bought 107.98 Japanese yen, lower than 108.94 Japanese yen of the previous session. The US dollar fell to 0.9869 Swiss franc from 0.9904 Swiss franc, and it was down to 1.3163 Canadian dollars from 1.3174 Canadian dollars. The dollar index, which measures the greenback against six major peers, decreased 0.30 per cent at 97.3517 in late trading.

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Seasonally adjusted gross domestic product (GDP) rose by 0.2 per cent in the euro area (EA19) and by 0.3 per cent in the EU28 during the third quarter, compared with the previous quarter, according to a preliminary flash estimate released by Eurostat, the statistical office of the European Union (EU).

Compared with the same quarter of the previous year, GDP rose by 1.1 per cent in the euro area and by 1.4 per cent in the EU28 in the third quarter.