The US dollar traded in a narrow range during the day near the two-week high at 97.40 levels, and continued to rise for the fourth day in a row after stabilizing above the uptrend line which we referred in previous reports.
The dollar's rally came as traders looked for safe haven as tensions with China continued. Markets await overnight a speech by Federal Reserve Chairman Jerome Powell following Trump's criticism of the Fed.
GDP data in the US helped the dollar stabilize at current levels, with the second estimate confirming US economic growth of 3.5% in the third quarter of 2018. The economy grew by 4.2% in the second quarter, driven by a plan of taxes cut of $1.5 trillion that boosted consumer spending.
The British pound rose from a two-week low today after comments by the British opposition that they might accept a second Brexit referendum. Theresa May is currently busy trying to persuade the UK street to accept its agreement which she reached with EU leaders on Sunday's summit.
Oil prices continued to fall on Wednesday as Brent crude fell below $ 60 a barrel as US crude stockpiles rose and doubts OPEC members to agree on cut production again when they meet next week.
