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Forex: Thursday's review
The dollar pared gains against the common currency before data that economists predict will show U.S. continuing jobless claims increased and home-sales growth slowed.
China’s economic growth quickened to an annual rate of 9.8% in the fourth quarter, up from 9.6% in the prior three months, the statistics bureau said. Consumer prices rose 4.6% in December from a year earlier, compared with 5.1% the previous month.
The People’s Bank of China will increase the key one-year lending rate to 6.81% from 5.81% this year and let the yuan strengthen about 6% against the dollar, Nomura Holdings Inc. forecast this week.
New Zealand’s dollar retreated from near the strongest this year. The government said consumer prices rose 2.3% in the fourth quarter from the previous three months, when they advanced 1.1% . Economists forecast 2.4% growth.
The euro gained against the pound and the yen as statistics showed German producer prices climbed at the fastest pace in seven months.
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