Dollar flat after IMF cuts global growth forecast

IMF expects global growth of 3.5% in 2013, down from its previous estimate of 3.6%
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First Published: Thu, Jan 24 2013. 10 39 AM IST
IMF also projects a slight economic contraction in 2013 for the 17 countries that use the euro. Photo: Hemant Mishra/Mint.
IMF also projects a slight economic contraction in 2013 for the 17 countries that use the euro. Photo: Hemant Mishra/Mint.
New York: The dollar was little changed against other major currencies Wednesday after the International Monetary Fund (IMF) cut its estimates for world economic growth this year.
IMF says that it expects global growth of 3.5% in 2013, down from its previous estimate of 3.6%.
IMF also projects a slight economic contraction in 2013 for the 17 countries that use the euro.
Traders are looking ahead to Thursday’s release of data from the euro zone, known as the Purchasing Managers Index, to get a better idea of how the economy is doing in the region.
The euro rose to $1.3321 in late trading on Wednesday from $1.3317 late on Tuesday. The British pound slipped to $1.5843 from $1.5844.
The dollar fell to ¥88.66 from ¥88.76 and the dollar rose to 0.9296 Swiss franc from 0.9294 Swiss franc and to 99.93 Canadian cents from 99.26 Canadian cents.
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First Published: Thu, Jan 24 2013. 10 39 AM IST
More Topics: Dollar | IMF | Global growth forecast | Yen | Euro |
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