The Greenback weakened against the European single currency, following the US Final GDP data release on Thursday. The EUR/USD currency pair gained seven pips, or 0.06%, to continue fluctuating in the 1.1592 area.
The Bureau of Economic Analysis released quarterly Gross Domestic Product data that came out lower-than-expected of 2.0%, and was also lower than the previous period.
According to Mario Blascak, the European Chief Analyst: “The largest positive contributions to GDP stem from nonresidential fixed investment, personal consumption expenditures, and exports. The biggest drag in PCE, exports, state and local government spending, federal government spending and a downturn in residential fixed investment. “