Dollar index pares losses after US GDP data

NEW YORK: The dollar briefly trimmed losses versus a basket of currencies early Tuesday after the U.S. government downgraded its reading on domestic economic growth in the third quarter less than what economists had projected.

Gross domestic product grew at a 2.0 percent annual pace, less than the 2.1 percent rate reported last month, the Commerce Department said in its third or final estimate on Tuesday. Economists polled by Reuters had forecast third-quarter GDP growth revised down to a 1.9 percent rate.

The dollar index which measures the greenback against the euro, yen and four other currencies was last down 0.2 percent at 98.151. It touched 98.245 shortly after the release of the third-quarter GDP data.