Little by little the dollar is heading lower on the day

EUR/USD is up to highs of 1.2293 on the day, while AUD/USD and NZD/USD also touches highs of 0.7819 and 0.7331 respectively. Meanwhile, USD/CAD and USD/CHF falls to session lows of 1.2686 and 0.9376 respectively at the same time.

USD/JPY slips to trade near the lows on the day as well, now at 107.25. The only relative non-mover is cable hovering around 1.3890 levels.

Sterling is the laggard on the day, as the GDP report earlier was revised a tad softer compared to the preliminary report. Overall, 2017 growth was revised lower to 1.7% and that's the slowest since 2012.

Although it's little changed compared to the preliminary figures, the question remains just how many rate hikes or how aggressive the BOE can push in terms of tightening monetary policy further at this point, if growth continues to be lacklustre.