The U.S. dollar remained mostly unchanged on Wednesday morning as China’s economic growth beat expectations, putting a halt to the greenback’s significant growth trajectory. According to official data, China’s economy grew by 1.3% over the third quarter; 0.5% faster than the previous quarter and exceeding market projections of a 1% increase.
Following this development, the dollar index rose 0.53% to 106.3; within touching distance of last week’s 11-month high of 107.34. The euro was down 0.2% against the greenback at $1.0555, while the British pound remained stagnant at $1.2179. The yen rose slightly against the dollar to 149.68.
“It’s had a really good run and it’s stalled a bit,” Westpac analyst Imre Speizer said of the dollar after it stagnated following its 11-month peak. “Maybe it’s hitting the limits of this stage of the rally, and needs a bit of a correction.”
