The US dollar gained today against the euro as Greece’s problems still undermine the shared European currency. The greenback weakened against the Japanese yen as the US economic growth slowed in the first quarter of this year.
The growth of the US gross domestic product slowed to 1.9 percent in the first quarter of 2011 from 3.1 percent in the fourth quarter of 2010. The US currency attempted to rally against the yen despite the unfavorable report, but wasn’t able to erase losses before the close of the trading session.
On the positive side, the durable goods orders rose 1.9 percent in May, while in April the decline by 2.7 percent was registered. The predicted growth was 1.6 percent. The positive data, together with uncertainty about the situation in Greece, allowed the dollar to gains versus the euro for the third day and to cap third weekly gain.
EUR/USD fell today from 1.4254 to the closing price of 1.4187. USD/JPY dropped from 80.50 to 80.41 after posting the intraday low of 80.13.
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