New York Session |
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Despite weaker than expected economic data and a stock market rout the buck held in pretty well against the majors in the NY session. The advance read of US 2Q GDP came in below market expectations at 1.9% from 0.9% in 1Q. The weakness in the automotive sector contributed heavily to the disappointment and excluding autos GDP would have been a very healthy 3.1% for the quarter. Initial jobless claims were a worse than anticipated 448K after a 404K print the prior week and this took
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