Friday, May 31

CP UPDATE: FOREX -DOLLAR SLIPS DOWNWARD

The dollar weakened against most major currencies on Thursday after the U.S. government revised its first-quarter gross domestic product growth rate down a percentage point, which dampened recent expectations for the Federal Reserve to scale back monetary stimulus measures.

Stimulus programs such as the Fed's monthly USD85 billion bond-buying program weaken the greenback to spur recovery.

In U.S. trading on Thursday, EUR/USD was up 0.78% at 1.3041.

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