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US durable goods drop more than forecast

US durable goods drop more than forecast

U.S. durable goods dropped more than forecast in April, adding further downside pressure on the U.S. dollar.

Durable goods orders dipped 2.1 percent last month, following a revised of 2.6 percent increase in March. Analysts had predicted a 2.0 percent decrease.

The core reading showed no change after a 0.3 percent surge in March, compared to median estimates of 0.1 percent increase.

As of 12:39 GMT, the dollar continued to trade lower at 97.58, compared to the session’s open at 97.71, set for a weekly loss.

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