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U.S. Dollar Weakens Despite Better-Than-Expected Q3 Economic Growth

The U.S. dollar softened in late trading Friday though U.S. Department of Commerce reported better-than-expected economic growth in the third quarter of 2018.

The dollar index, which measures the greenback against six major peers, fell 0.33 percent to 96.3530 at 3:00 p.m. (1900 GMT).

The dollars index once advanced to 96.860 in the morning session on firm economic expansion data.

Still, investors soon buy Japanese yen to hedge risks amid continuous fall of U.S. stock markets.

In late New York trading, the euro rose to 1.1410 dollars from 1.1359 dollars in the previous session, and the British pound rose to 1.2830 dollars from 1.2815 U.S. dollars in the previous session. The Australian dollar rose to 0.7093 dollar from 0.7085 dollar.

The U.S. dollar bought 111.83 Japanese yen, lower than 112.58 Japanese yen of the previous session. The U.S. dollar decreased to 0.9969 Swiss franc from 1.0004 Swiss franc, and it increased to 1.3090 Canadian dollars from 1.3078 Canadian dollars.

(www.chinaview.cn 2018-10-29)