The US Bureau of Economic Analysis is due to release its final fourth quarter GDP report at 8:30 am ET. The report is likely to show that the U.S. economy contracted by a 6.6% rate in the quarter.

At the same time, the Labor Department is due to release its customary weekly jobless claims report for the week ended March 21st.

The greenback held steady against its major opponents ahead of the reports. As of 8:25 am Eastern Time, the dollar was worth 1.4585 against the pound, 98.3 versus the yen, 1.1241 against the franc and 1.3602 per euro.

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