Dollar weakened notably in early US session after US Q1 GDP report. The headline growth of 3.2% annualized blew past expectations. But analysts were quickly to point out that the details were much weaker than the headline suggested. Nevertheless, downside in Dollar is relatively limited for now. It remains the second strongest for the week, next to Yen.
Some suggested readings on US GDP:
- US: GDP Growth Not Quite as Strong in Q1 as Headline Suggests
- US GDP Recap: Traders See Through Stellar 3.2% Headline Growth to Questionable Details
- US: Temporary Factors Boost First Quarter Growth to 3.2%
- US GDP Jumped 3.2% in Q1