Investing.com - The dollar remained moderately higher against a basket of other major currencies on Friday, after disappointing U.S. fourth quarter growth data and an upbeat report on consumer sentiment, as markets turned to an upcoming speech by Federal Reserve Chair Janet Yellen.
In a report, the U.S. Bureau of Economic Analysis said that fourth quarter gross domestic product rose 2.2%, in line with a preliminary estimate but below expectations for a growth rate of 2.4%.
Separately, the University of Michigan said that its consumer sentiment index rose to 93.0 this month from a reading of 91.2 in February, beating expectations for a rise to 92.0.
The University of Michigan also reported that its inflation expectations for the next 12 months remained unchanged at 3.0% in March.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08% to 97.62.
EUR/USD was down 0.11% to 1.0872, just off session lows of 1.0801.
Sentiment on the euro remained vulnerable after Greece failed in a bid on Wednesday to secure a quick cash payment from the euro zone rescue fund to help stave off potential bankruptcy next month.
Athens had appealed for the European Financial Stability Facility to return €1.2 billion it said it had overpaid when it transferred bonds intended for bank recapitalization this month.
The Greek government is expected to present a detailed list of proposed reforms to its eurozone partners by next Monday.
The pound remained higher, with GBP/USD up 0.32% to 1.4897.
Demand for sterling strengthened after Bank of England Governor Mark Carney said that the central bank's next move on interest rates would be upward.
Earlier Friday, the Nationwide Building Society reported that U.K. house prices rose 0.1% this month, disappointing expectations for a 0.2% gain, after a 0.1% downtick in February.
Elsewhere, the dollar was steady against the yen and the Swiss franc, with USD/JPY at 119.18 and with USD/CHF at 0.9624.
In Japan, official data earlier showed that household spending rose 0.8% in February, exceeding expectations for a 0.5% gain, after a 0.3% fall the previous month.
A separate report showed that consumer price inflation in Japan rose at an annualized rate of 2.0% in February, compared to expectations for 2.1% and down from 2.2% in January.
Data also showed that Japan's retail sales dropped at an annualized rate of 1.8% last month, confounding expectations for a 1.5% decline, after a 2.0% drop in January.
The Australian and New Zealand remained broadly weaker, with AUD/USD tumbling 0.91% to 0.7757 and NZD/USD retreating 0.49% to 0.7562. Meanwhile, USD/CAD gained 0.41% to 1.2535.
The commodity-linked loonie also weakened on the back of dropping oil prices, as upbeat U.S. data overshadowed concerns over a supply disruption in the Middle East following news Saudi Arabia launched air strikes in Yemen this week to counter Iran-backed Houthi rebels.