NEW YORK (Dow Jones)--The euro gained against the dollar and yen in morning New York trading Thursday after third-quarter U.S. economic output came in better than expected.
The 3.5% expansion--beating an expected 3.2%--could stop the recent broad slide in riskier asset classes as investors concerned over the pace of the global economic recovery had pulled back on risk. The strong showing could cause investors to push ahead on riskier assets.
In early morning trading, the euro was at $1.4762, from $1.4705 late Wednesday, according to EBS via CQG. The dollar was at Y91.16, from Y90.82, while the euro was at Y133.42, from Y133.55. The U.K. pound was at $1.6495, from $1.6370. The dollar was at CHF1.0240, from CHF1.0272.
The Dollar Index, a trade-weighted basket of six currencies, was at 76.257, from 76.228 late Wednesday.
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