Unexpected growth in the US GDP number sent traders to the greenback, lifting its valuation across all major rivals.
The EURUSD pair tanked early Friday, extending its decline from a day earlier when the US revealed its economy expanded more than expected. The exchange rate tumbled roughly 1%, or 100 pips, from a Thursday high of $1.09 to a Friday session low of just around the $1.08 mark.
US gross domestic product grew by a surprise 3.3% rate for the December quarter, shooting past estimates for a modest 2% rate of expansion. The news stirred up forex dealmaking, sending the US dollar higher against all other major currencies and lifting the index DXY on track for its fourth consecutive week of green candlesticks.
Across forex corners, the USDJPY was back on the offensive, erasing some of its weekly losses to trade near the ¥148.00 handle. The GBPUSD remained under pressure early on Friday, extending its range-bound sideways trading near the $1.27 area.