NEW YORK, July 28 (Xinhua) -- The U.S. dollar declined against most major currencies on Friday despite positive economic growth data from the country.
The U.S. economy grew at an annual rate of 2.6 percent in the second quarter of the year, higher than the revised 1.2 percent in the previous quarter, according to the first estimate released by the Department of Commerce Friday.
The latest GDP data confirmed that the U.S. economy is on track to deliver a 2 percent growth rate this year. "It's a 2 percent economy, plus or minus a little bit," said Michael Feroli, chief U.S. economist at JP Morgan.
Analysts said the greenback was under pressure as recent political uncertainty in Washington has caused concerns about whether the Trump administration could deliver on its campaign promise in fiscal stimulus and tax cuts.
The dollar index, which measures the greenback against six major peers, was down 0.56 percent at 93.342 in late trading.
In late New York trading, the euro rose to 1.1754 U.S. dollars from 1.1679 U.S. dollars, and the British pound climbed to 1.3143 U.S. dollars from 1.3077 U.S. dollars. The Australian dollar increased to 0.7989 U.S. dollar from 0.7971 U.S. dollar.
The U.S. dollar bought 110.68 Japanese yen, lower than 111.12 yen of the previous session. The U.S. dollar added to 0.9687 Swiss franc from 0.9635 Swiss franc, and it edged down to 1.2444 Canadian dollars from 1.2546 Canadian dollars. Enditem
