The US dollar was mixed during the Wednesday’s trading session. The currency fell versus the euro, gained on the Great Britain pound and was flat against the Japanese yen.
Released today, data showed that US gross domestic product contracted 0.2 percent in the first quarter from the previous three months. The final revision of the report was better than the previous estimate that showed a drop by 0.7 percent. Economists do not worry about the contraction, attributing it to harsh winter and thinking that the economy has picked up during later months.
The dollar, as well as other currencies, had some trouble in establishing a clear trend due to the confusing situation in Greece. Hopes for a successful resolution of the debt crisis are mixed with fears of default and a possible exit of the country from the eurozone, leading to uncertainty and confusion on the market.
EUR/USD rose from 1.1167 to 1.1196 as of 20:00 GMT today. GBP/USD dropped from 1.5728 to 1.5694 after rallying to 1.5802 earlier. USD/JPY traded at 123.85 after opening at 123.93 and rising to 124.37.
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