المملكة: The price of the dollar rises with the shrinking of the American economy in 3 months

The price of the dollar rose against major currencies on Wednesday, after a report showing the shrinkage of the American economy “the largest economy in the world” in the first quarter of this year at a worse rate than market expectations.
Initial estimates of the gross domestic product in the report of the US Department of Trade Analysis on Wednesday, indicated that the output decreased 0.3% on an annual basis in the first quarter, under the influx of imported goods brought by companies to avoid high costs.
The data showed that imports jumped 41.3% in the first three months of the year.

The dollar against currencies

The dollar rose against the Japanese currency 0.3% to 142.77 yen, and the euro fell 0.4% to $ 1.1343.
The pound fell 0.5% to $ 1.3340, and the British currency rose 3.3% in its largest rise against the dollar since November 2023.