THE US dollar traded on bid tone against most pairs in tight ranges into a typically quiet Thanksgiving session along with heightened geopolitical uncertainties and low liquidity. The greenback however failed to react much to stronger revised third-quarter gross domestic product (GDP) of 2.1% against earlier estimate of 1.5%.
Most of US data flows for the week were mostly close to expectations and there was no major improvement in the Federal Reserve’s preferred inflation measure with headline PCE inflation steady at 0.2% – the chief pillar of the US dollar’s broad buoyancy. Though mostly rangy trades, the greenback lost ground to safer peers of Japan and Switzerland following the downing of a Russian fighter jet near the Syrian-Turkish border.