EG: Dollar mixed on GDP revision, consumer sentiment data
The U.S. dollar was mixed against major currencies in late New York trading on Friday as U.S. economy growth was revised and the U.S. consumer sentiment improved.
After consecutive losses against major currencies in the past few days, the dollar showed signs of recovery on Friday as investors began to collect their gains from short bets on the dollar.
However, the U.S. Commerce Department said Friday that the U.S. economy grew 2.8 percent in the fourth quarter of year 2010, down from the previous estimation of 3.2 percent. The dollar pared its earlier gains after the report.
According to a survey released by Thomson Reuters and the University of Michigan, the U.S. consumer sentiment reached 77.5 in February, the highest level since January 2008, from 74.2 in January. Strong consumer confidence helped lifting the dollar in late trading session.
The dollar index rose to 77.266 from 77.086 late Thursday.
In late Friday trading, the dollar bought 81.71 Japanese yen, comparing with 81.77 late Thursday, and the euro fell to 1.3741 dollars from 1.3807.
The British pound also fell to 1.6098 dollars from 1.6137. The dollar rose from 0.9253 to 0.9287 against Swiss francs, but fell to 0.9783 Canadian dollars from 0.9835.