Asian shares drifted off in sleepy trade on Friday, while the dollar held around...
SYDNEY - Asian shares drifted off in sleepy trade on Friday, while the dollar held around two-year highs on speculation that figures later in the day will show the U.S. economy outperforming the rest of the developed world.
“The dollar will remain bid in this environment while data continues to look more favorable from the U.S., especially with regard to the EU,” said Nick Twidale, head of operations at broker Rakuten Securities. The dollar was flat at 111.61 yen, after shedding 0.5 percent overnight, but was buoyed elsewhere by a solid report on U.S. durable goods orders.
A string of solid numbers has led analysts to revise up their forecasts for growth and the latest median polled by Reuters is for an annualized 2.0 percent.
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