The dollar rebounded slightly against most major currencies on Thursday as U.S. economic growth in the fourth quarter met market expectations.
The Commerce Department reported on Thursday that the U.S. gross domestic product (GDP) recorded an annual rate of just 0.6 percent in the fourth quarter of 2007.
Down sharply from 4.9 percent in the third quarter, the GDP reading was in line with expectations, easing fears of a much steeper slowdown.
The dollar was also helped by a Labor Department report which showed the number of U.S. workers filing new claims for jobless benefits fell by 9,000 last week.
The dollar's gains were limited as the Commerce Department reported U.S. corporate profits fell 3.3 percent in the fourth quarter of 2007. Analysts said the weak dollar trend will remain in the long run.
The euro bought 1.5780 dollars in late New York trading compared with 1.5815 dollars it bought late Wednesday. The British pound fall to 2.0036 dollars from 2.0060 dollars.
The dollar was unchanged at 100.00 Japanese yen. It rose from 0.9918 Swiss francs to 0.9949 Swiss francs, and fell 1.0194 Canadian dollars to 1.0167 Canadian dollars.
Source: Xinhua
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