The US dollar regained strength by rising higher in the European session as investors braced for another round of data ahead of the close of business this week and month.
Earlier, it was reported that the US economy grew more slowly in the first quarter at an annual rate of 1.1% from the previous reading of 2.6%.
Nevertheless, the currency king remained resilient against its rivals as the report also detailed that healthy consumer activity and a strong inflation component last quarter.
Also showing strength were lower-than-expected initial jobless claims, suggesting the US job market remains strong.
Investors are now turning their attention to the reading of consumer personal expenditure (PCE) data for March in the upcoming New York session.
In the meantime, the euro and the pound recorded a decline at the beginning of the European trading session due to the revival of the US dollar.
In addition, investors were also shown the publication of economic data that showed gloomy signs in the European economy and inflation easing.
Meanwhile, the yen slipped lower after the Bank of Japan (BOJ) decided to keep interest rates unchanged at its latest policy meeting.
On the other hand, the Aussie dollar slipped back to lower levels, while the New Zealand dollar again erased previous gains to trade lower against the US dollar.
Investors remain cautious of any profit taking activity as today is the last day of trading for the week and the month of April.
