US Dollar Decline Shows No Signs of Slowing as US GDP Still Shows 5.7% Contraction in Q1

US Dollar Decline Shows No Signs of Slowing as US GDP Still Shows 5.7% Contraction in Q1
• Euro Ends the Week Right Below Key Resistance at 1.4180 – ECB to Release Credit Easing Details Next Week
• British Pound Clears 1.60 Once Again, BOE Meeting May Prove to Be a Non-Event Next Week US Dollar Decline Shows No Signs of Slowing as US GDP Still Shows 5.7% Contraction in Q1
The US dollar continued to plunge across the majors on Friday, leaving it down more than 2 percent versus the commodity dollars and down over 1 percent against the euro, British pound, Japanese yen, and Swiss franc. Looking to the US economic calendar, US GDP was revised up to -5.7 percent in Q1 from -6.1 percent, leaving the past two quarters as the worst in 50 years.