Dollar rises on better US economic growth

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Dollar rises on better US economic growth

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Dollar rose against most major currencies on better-than-expected economic growth.

30 August,2012 03:18 am

Better-than-expected economic growth and strong home sales in the U.S. are pushing the dollar higher against most major currencies.The Commerce Department said that the economy grew at a 1.7 percent annual rate in the April-June quarter. Thats better than its initial estimate of 1.5 percent.Separately, the National Association of Realtors said that its index of sales agreements for previously occupied homes jumped to 101.7 in July from 99.3 in June. That the highest reading since April 2010.The euro fell to $1.2540 in midday trading from $1.2564 late Tueday.The dollar rose to 78.75 Japanese yen from 78.53 yen and to 0.9574 Swiss franc from 0.9559 Swiss franc.The British pound rose to $1.5840 from $1.5822.