NEW YORK, Dec 23 (Reuters) – The U.S. dollar curbed its losses against the yen and euro on Tuesday, after data showed the world’s largest economy posted higher-than-expected growth in the third quarter, reinforcing expectations the Federal Reserve will pause cutting rates at its January meeting.
Data showed that U.S. gross domestic product rose at a 4.3% annualized rate in the last quarter, the first estimate from the Commerce Department’s Bureau of Economic Analysis showed. Economists polled by Reuters had forecast GDP would rise at a 3.3% pace in the third quarter.
Following the report, the dollar cut its losses against the yen to 156.11 yen, still down 0.6%. The euro also slid, paring gains against the dollar to $1.1786, still up 0.2% on the day.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama )
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