Dollar slips against euro, yen on unexpected decline in US GDP

The dollar fell against the euro and the yen on the morning of the last working day of July, while traders continue to react to data about a possible recession in the US economy last quarter, Report informs, citing the auction data.

The euro against the dollar rose to 1.0218 dollars from the previous close of 1.0196 dollars; the dollar against the yen fell to 133 yen from 134.28 yen. And the dollar index (the exchange rate against a basket of currencies of six countries - US trading partners) fell by 0.46%, to 105.87 points.

According to the first estimate of the US Department of Commerce, the country's GDP fell for the second quarter in a row - by 0.9% in annual terms. At the same time, analysts expected a slight increase. This reinforced fears of a recession in the US economy, which will formally take place if the initial assessment is confirmed.

Since the beginning of the week, the dollar fell slightly against the euro - by 0.07%, but the drop against the yen was steeper, by 2.2%. The dollar index fell by 0.8%. These days, the American currency felt uncertain in anticipation of the results of the Fed meeting.