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US Dollar Rises Early Friday Ahead of Light US Calendar

BY MT Newswires | ECONOMIC | 08:04 AM EST

08:04 AM EST, 12/12/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the Canadian dollar, ahead of a light schedule that includes only an appearance by Chicago Federal Reserve President Austan Goolsbee at 10:35 am ET and an expected update to the St. Louis Fed's gross domestic product Nowcast estimate for Q3 around midday.

Goolsbee was one of two Fed officials to dissent at this week's Federal Open Market Committee meeting in favor of no change to the policy rate. The newest Federal Reserve board member, Stephen Miran, also dissented but in favor of a 50 basis point rate cut.

The focus next week will turn to delayed employment and consumer price data for November as the main highlights of an extremely busy pre-holiday schedule.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD fell to 1.1723 from 1.1741 at the Thursday US close but was above a 1.1715 level at the same time Thursday morning. There are no Eurozone data on Friday's schedule. The next European Central Bank meeting is scheduled for Dec. 18.

GBP/USD fell to 1.3368 from 1.3395 at the Thursday US close and 1.3390 at the same time Thursday morning. UK GDP contracted in October, but the year-over-rate was in line with the previous month, data released overnight showed. The next Bank of England meeting is scheduled for Dec. 18.

USD/JPY rose to 155.9467 from 155.5881 at the Thursday US close and 155.6430 at the same time Thursday morning. Japanese consumer sentiment fell in December while industrial production growth slowed in October, according to data released overnight. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD fell to 1.3765 from 1.3771 at the Thursday US close and 1.3798 at the same time Thursday morning. Canadian data on building permits, new motor vehicle sales and wholesale sales for October and capacity utilization data for Q3 are all due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Jan. 28.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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