By Lisa Twaronite, MarketWatch
TOKYO (MarketWatch) - The dollar edged down against major rivals ahead of Thursday's eagerly awaited U.S. gross domestic product report, which is expected to show the U.S. economy returned to growth in the third-quarter.
"A significant improvement in GDP growth is already priced in and it would likely take a significant surprise on the upside for this figure to counter the correction that is currently occurring," said Sebastien Barbe at Calyon Asia Research.
"Against such a backdrop, [the euro] may remain soft versus both [the U.S. dollar] and [the Japanese yen] in the short term, as risk appetite remains capped and investors book profits on their books," Barbe said in a note Thursday.
The euro rose to $1.4732, from $1.4713 in late North American trading on Wednesday.
The dollar fell to 90.53 yen, from 90.80 yen late Wednesday.
On Wednesday, the dollar rose, stretching a rally against a basket of currencies to a fifth session, supported by weak U.S. economic data that weighed on equity markets and led investors to seek safety in the greenback and cut exposure to assets perceived as risky.
