USD Mixed Despite Data, Japan GDP Surprises

The dollar failed to capitalize on upbeat US economic data, instead, putting in a mixed performance for the day.

There was speculation earlier in the day which sent the greenback slightly lower against the Swiss franc and the euro.

A trader in NY had cited a rumour about a bomb threat at the New York’s Port Authority, which resulted in a closure and a security check. Nevertheless, the impact was short-lived.

The Philadelphia Fed index surged by more than initially estimated, with the business conditions component rising to its highest level since August 2005 at 15.4.

The February report far exceeded both last month’s reading of 3.3 and calls for an improvement to 9.2.

The new orders component improved to 12.5, compared with 11.1 in January. However, the employment index slipped slightly to 11.3 versus 11.7 previously.



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