NEW YORK/LONDON, May 30 - The dollar fell on Thursday after revised data showed that gross domestic product - the broadest measure of economic activity - grew at slower pace than previously expected in the first quarter, after the currency rose to a two-week high the previous day.
"This is definitely something that the Fed was looking for. All of these figures coming in below expectations ... is taking a bit of heat off of the Fed," said Helen Given, FX trader at Monex USA. The dollar was down 0.57% against the Japanese yen at 156.755 after hitting a one-month high of 157.72 the previous day.
"Japanese authorities intervened near this level on May 1, and the market now views 158 as a critical point for potential intervention," Chanana said.
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