The U.S. Bureau of Economic Analysis said gross domestic product rose 0.7% in the first quarter, down from the 2.1% growth rate registered in the fourth quarter of 2016. Analysts had expected the U.S. GDP to rise 1.2% in the last quarter.
Meanwhile, sentiment on the greenback remained fragile after U.S. President Donald Trump said he will either renegotiate or terminate a “horrible” trade deal with South Korea.
The comments came shortly after Trump said that a “major, major” conflict with North Korea is possible but he is looking for a diplomatic answer.
EUR/USD climbed 0.46% to 1.0923. Earlier Friday, data showed that German retail sales rose 0.1% in March, confounding expectations for a 0.3% fall.
Elsewhere, GBP/USD added 0.14% to 1.2920, just off a six-month high of 1.2956 hit earlier in the session.
The U.K. Office for National Statistics reported on Friday that the country’s GDP expanded by 0.3% in the three months ended March 31, below forecasts for growth of 0.4%.
However, the U.K. economy grew by 0.7% in the preceding quarter and has now grown for 17 consecutive quarters.
Year-over-year, the U.K. economy expanded by a 2.1% rate in the first quarter, also below forecasts for an expansion of 2.2%.
USD/JPY rose 0.29% to 111.58, while USD/CHF slipped 0.18% to 0.9923.
Data earlier showed that Japan’s household spending declined 2.0% in March, compared to expectations for a 0.8% fall.
A separate report showed that Japan’s consumer price index rose by an annualized rate of 0.2% last month, below expectations for a 0.3% gain.
Meanwhile, industrial production dropped 2.1% in March, according to preliminary data, compared to forecasts for a 0.8% slide.
The Australian dollar was steady, with AUD/USD at 0.7463, while NZD/USD shed 0.20% to 0.6860.
Meanwhile, USD/CAD eased up 0.08% to trade at 1.3642, just off Thursday’s 14-month peak of 1.3672, after Statistics Canada reported that the country’s GDP was flat in February, compared to expectations for a 0.1% rise and after a growth rate of 0.6% the previous month.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.18% at 98.83, not far from a recent five-month low of 98.56[:]