Euro remains on rebound against dollar

The euro remained on a rebound against the dollar this morning after it was pressured lower prior to the release of the GDP figures…

The euro remained on a rebound against the dollar this morning after it was pressured lower prior to the release of the GDP figures overnight.

Dealers said the dollar rebounded from overnight lows during the Asian trading session against the yen after it slipped following the fairly disappointing GDP data.

At 9 a.m., the euro was trading $1.1944, while the single currency was up marginally against sterling at £0.6757.

The US dollar was largely steady against the yen ahead of the US Federal Open Market Committee meeting next week and after the US said its gross domestic product expanded less than expected in the first quarter, dealers said.