|Published:||Oct 26, 2012 1:57 PM EDT|
|Updated:||Oct 27, 2012 6:31 AM EDT|
NEW YORK (AP) - Data showing that the U.S. economy grew at a faster pace than expected during the third quarter is pushing the dollar higher against other major currencies.
The Commerce Department says the economy grew at a 2 percent annual rate from July through September, thanks to higher spending by consumers and the federal government. Economists expected it to grow 1.8 percent.
The euro fell to $1.2930 in afternoon trading from $1.2949 late Thursday. The British pound fell to $1.6088 from $1.6124.
The dollar rose to 0.9353 Swiss franc from 0.9343 Swiss franc.
The dollar fell to 79.72 Japanese yen from 80.29 Japanese yen.