Dollar Rises After Q4 GDP Report

By Markets MarketWatch Pulse

The dollar strengthened against its main rivals Friday after official data showed U.S. gross domestic product rising in line with economists' expectations in the fourth quarter. The dollar strengthened to 121.26 yen after the data, from 121.03 yen shortly before. The euro fell to $1.0891, from $1.0916 beforehand. The pound fell to $1.4256, from $1.4294. "Traders are a little bit relieved that the pressure on price levels wasn't worse," said Matt Weller, a senior technical analyst at Forex.com. "It's not a great report, but it's not as bad as some expected." Investors' anxiety surrounding the GDP report intensified this week after a spate of surprisingly weak reports on manufacturing and consumer spending hinted that growth might've shrank in the fourth quarter.

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