Investing.com - The dollar slipped lower a basket of other major currencies on Friday, after data showed that the U.S. economy slowed less than expected in the first quarter and as investors eyed additional U.S. economic reports due later in the day.
In a preliminary report, the U.S. Bureau of Economic Analysis said gross domestic product slipped 0.7% in the first three months of 2015, compared to expectations for a 0.8% decline and following a growth rate of 0.2% in the last quarter of 2014.
USD/JPY was steady at 123.96, not far from Thursday's 13-year peak of 124.47.
In Japan, data earlier showed that industrial production increased by 1.0% last month, exceeding expectations for a 0.8% rise, after a 0.8% fall in March.
A separate report showed that Japan's household spending dropped 5.5% in April, compared to expectations for a 0.7% slip, after a 2.4% rise the previous month.
Data also showed that consumer prices in Japan ticked up at an annualized rate of 0.6% last month, in line with expectations, after a 2.3% increase in March.
The euro was higher, with EUR/USD up 0.34% to 1.0988 after data showed that German retail sales rose 1.7% last month, beating expectations for a 0.8% gain.
Separately, a preliminary report showed that Spanish consumer prices slipped 0.2% this month, compared to expectations for a 0.5% decline, after a 0.6% fall in April.
But gains were capped as Greece's creditors said late Thursday that a deal to unlock rescue aid was not imminent. Athens had claimed a solution could be reached by Sunday.
The pound was lower, with GBP/USD down 0.19% to 1.5285, while the Swiss franc gained ground, with USD/CHF down 0.42% to 0.9402.
Data earlier showed that the KOF economic barometer for Switzerland rose to 93.1 this month from 89.8 in April, whose figure was revised from a previously estimated reading of 89.5. Analysts had expected the barometer to rise to 90.0 in May.
The Australian dollar was little changed, with AUD/USD at 0.7648, while NZD/USD declined 0.74% to trade at 0.7125.
USD/CAD climbed 0.51% to 1.2443, re-approaching Thursday's six-week highs of 1.2538. Data showed that Canada's GDP slipped 0.2% in March, confounding expectations for an increase of 0.2%, after a 0.1% fall from 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 0.13% to 97.00, still close to Wednesday's five-week highs of 97.88.
Later in the day, the University of Michigan was to report on U.S. consumer sentiment.