lower gdp number hits dollar
The U.S. government lowered the estimated decline in Q2 GDP and that news hit the dollar hard. The pound still had support on its own, and with the GDP news, the big gainer was GBP/USD, which exhibited a breakout rally. A stronger risk appetite helped the EUR/USD too.
Signs of a recovery in the U.S. economy are here as most traders sighted higher crude prices and a higher Canadian Dollar as signals good for the U.S. economy.
