26 May 2005, 17:23  The dollar retained gains against the euro and yen

The dollar retained gains against the euro and yen early Thursday, after first-quarter gross domestic product was revised higher, but not as much higher as most economists had predicted. The Commerce Department said GDP rose at a 3.5% annual rate in the first quarter, faster than the 3.1% estimate given a month ago, but below a MarketWatch forecast of 3.6% growth. Separately, the Labor Department said initial jobless claims in the latest week rose 1,000 to 323,000; the MarketWatch prediction was for an increase to about 326,000 new claims. In recent trades the euro was down 0.7% at $1.2518 and the dollar was up 0.4% at 108.18 yen.

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