The U.S. dollar declined against major currencies in Asian trade on Friday as data released Thursday including U.S. GDP and jobless claims offered a disappointing view of the U.S. economy.
EUR/USD was up 0.71 percent to trade at 1.4244, USD/JPY was down to trade at 81.02 and USD/CHF was down 0.8 percent to trade at 0.8578.
The Commerce Department's second estimate for quarterly GDP growth was unrevised at up 1.8 percent annualized and came in lower than the consensus forecast for 2.1 percent. The first quarter remains notably softer than the 3.1 percent pace in the fourth quarter.
Consumer spending, which occupies more than two-thirds of US GDP, increased at the rate 2.2 percent in the quarter against the expectations of 2.7 percent increase.
“We expect that consumer spending will stay persistently soft until the decline in oil prices feeds into gasoline prices. While some of the weakness in construction during Q1 can be attributed to the weather, and construction may show a marginal pick-up in the Q2 number released at the end of July, this sector undoubtedly remains weak,” said a note from Standard Chartered.
Separately, the Labor Department data showed that the number of people seeking jobless benefits unexpectedly rose by 10,000 to 424,000 last week, while the markets had expected the number to fall to 400,000.
The dollar also came under selling pressure following a drop in U.S. Treasury yields on Thursday, with yields falling to a low of 3.054 percent.