Dollar rebounds ahead of awaited growth and confidence data from the United States amid a status of worries stemming from the unrest in the Middle East with the escalation from Libya.

At 13:30 GMT, the US annualized GDP for the fourth quarter is expected to inch up to 3.3% from 3.2%, while later on in the session the University of Michigan confidence is predicted to incline to 75.4 in February from 75.1.

Some of the concerns regarding oil supplies from oil have eased after Saudi Arabia promised to increase production which pushed oil prices down and gave a boost to shares.

The dollar index, which tracks the dollar movements versus a basket of major currencies, rebounded today to 77.15 from the day's opening at 77.09 to pare some of the losses incurred over the previous two sessions, where it is till traded in an oversold area.

With regards to the dollar-yen, it is on the rise over hourly basis while on the daily basis the pair is trading near the day's opening at 81.87 after touching a high of 82.06 and a low of 81.77.

The trading range for today is among the key support at 80.35 and the key resistance at 83.35.

In Europe, the euro retreated in the absence of important fundamentals from the euro area ahead of next week's rate decision, where there are some possibilities to see interest rate rise after comments from ECB officials this week that showed the readiness of the bank to rise borrowing cost if needed.

Concerning the euro-dollar pair, it is showing slight decline on the daily charts, where the pair is currently moving in an overbought area, as indicated by the Stochastic over daily basis.

Meanwhile, the pair is trading at 1.3780 after reaching a high of 1.3838 and a low of 1.3770, whereas the trading range for today is among the key support at 1.3610 and the key resistance at 1.3980.

Moving to the British pound, it fell against majors after news today showing that fourth quarter GDP had been downwardly revised to -0.6% from the advanced -0.5%, before March's rate decision which may witness change in monetary policy after the rise in inflation to 4.0% in January.

The pound slipped for the second day to reach 1.6091 after the breach of support at 1.6100 which pushed the pair to hit a low of 1.6067 while the highest point was recorded at 1.6159.The trading range for today is among the key support at 1.6110 and the key resistance at 1.6415.