The U.S. dollar continued to fall against other major currencies Friday as data showed the U.S. economy grew at a slower-than-expected pace in the first quarter.
The U.S. Commerce Department reported that the country's first- quarter gross domestic product, the broadest measure of the nation 's economic health, rose at an annual rate of 2.2 percent, disappointing economists who were expecting a stronger growth rate of 2.5 percent.
The worse-than-expected GDP number exerted downward pressure to the dollar as it increases the chances for the Federal Reserve to launch a new round of quantitative easing, known as QE3.
Also adding to the losses, the euro was bolstered to a multi- week higher against the greenback after a smooth Italian bond auction eased concerns over peripheral euro-zone debt markets and offset jitters sparked by a two-notch downgrade of Spain's sovereign debt and dismal Spanish economic data.
In late Friday trading, the euro rose to 1.3259 dollars from 1. 3239 dollars. The dollar slipped to 0.9062 Swiss francs from 0. 9079, and fell to 0.9809 Canadian dollars from 0.9837. The British pound rose to 1.6269 dollars from 1.6198.
Meanwhile, the dollar bought 80.39 Japanese yen, lower than 80. 95 in the previous session./.