Dollar mixed after improved GDP report

0 Comments | AFP, March, 2007

NEW YORK (AFP) — The dollar traded mixed Thursday as an upward revision to estimates of US fourth quarter growth failed to ease market concerns about economic weakness.

The euro rose to 1.3331 dollars at 2100 GMT after 1.3312 late Wednesday in New York.

The dollar meanwhile rose to 118.02 yen, from 116.85 on Wednesday, after a weak report on Japanese retail sales and Tokyo rejected accusations it was manipulating its currency.

In Washington the US Commerce Department said the economy expanded at a 2.5 percent annualized pace in the fourth quarter of 2006, a bit faster than earlier estimates.

But analysts cautioned that the report showed more tepid growth was likely ahead as the economy takes a hit from a slumping real estate market. The data raised...