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Dollar steadies after fourth-quarter GDP

Anneken Tappe
Dollar steadies after fourth-quarter GDP

U.S. dollar pared an early loss after fourth-quarter economic growth turned out to be stronger than expected. Havens like the Swiss franc and Japanese yen, meanwhile, retraced the gains logged amid risk-off impulses from the U.S.-North Korea summit in Vietnam. U.S. gross domestic product slowed to 2.6% between October and December, compared with 3.4% in the third quarter but the expansion, nevertheless, beat consensus estimates of 1.9% and may have alleviated investor worries about a more sluggish U.S. data.