Dollar trims gains versus yen after U.S. GDP data
NEW YORK Jan 30 (Reuters) - The dollar pared gains versus the yen on Wednesday after data showed the U.S. economy unexpectedly contracted in the fourth quarter, suffering its first decline since the 2007-09 recession.
The dollar briefly traded as low as 90.89 yen, according to Reuters data and was last at 91.05 yen, still up 0.3 percent on the day. Before the release of the data, the dollar was trading around 91.18 yen.
The euro was last at $1.3539, up 0.4 percent on the day, after rising as high as $1.3548 after the data.
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Tata Consultancy Services Ltd , India's largest IT services exporter, posted a 51.5 percent rise in quarterly net profit, beating expectations, as it won more contracts in Europe and some emerging markets. Full Article | Full Coverage