The US dollar slid to a one-month low against a basket of major currencies on Wednesday after weak US gross domestic product and durable goods orders data signalled the likelihood of a continued dovish stance from the Federal Reserve.
The Commerce Department said US gross domestic product fell at a 2.9 percent annual rate in the first quarter, instead of the 1.0 percent pace it had reported last month, to record its worst performance in five years. In a second report, the department said orders for long-lasting US manufactured goods fell 1.0 percent last month, marking the first decline in three months. Economists polled by Reuters had forecast orders being flat.
The US dollar index, which measures the dollar against a basket of six major currencies, was last down 0.22 percent at 80.153. The index earlier hit 80.091, its lowest in over a month.
The euro was last up 0.25 percent against the dollar to trade at $1.3639. The currency hit a more than two-week high against the dollar of $1.36515 earlier in the session.
The dollar was last down 0.25 percent against the yen at 101.72 yen after having fallen to a near two-week low of 101.62. The dollar was also last down 0.25 percent against the Swiss franc to trade at 0.8915 franc.
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