Stronger GDP growth helps dollar

The dollar strengthened against the euro at the end of last week, reversing previous declines, as stocks rallied on news of unexpectedly strong American GDP growth in the second quarter. The American economy grew at a revised 3.3% annually, according to the Commerce Department, much higher than its earlier estimate of 1.9%. Exports grew by an annualised rate of 13.2% and imports shrank by 7.6%, improving the trade balance.