Dollar rises on report of pickup in US growth
NEW YORK -- Data showing that the U.S. economy grew at a faster pace than expected during the third quarter pushed the dollar higher against other major currencies Friday.
The Commerce Department said the economy grew at a 2 percent annual rate from July through September, thanks to higher spending by consumers and the federal government. Economists expected it to grow 1.8 percent.
The euro fell to $1.2932 in late trading Friday from $1.2949 late Thursday. The euro is down about 1 percent against the dollar for the week
The British pound fell to $1.6099 from $1.6124.
The dollar rose to 0.9352 Swiss franc from 0.9343 Swiss franc and to 99.88 Canadian cents from 99.40 Canadian cents.
The dollar fell to 79.66 Japanese yen from 80.29 Japanese yen.
The Commerce Department said the economy grew at a 2 percent annual rate from July through September, thanks to higher spending by consumers and the federal government. The euro fell to $1.2932 in late trading Friday from $1.2949 late Thursday. The dollar rose to 0.9352 Swiss franc from 0.9343 Swiss franc and to 99.88 Canadian cents from 99.40 Canadian cents.