The Euro regained against the U.S. Dollar as stronger than expected data of growth figures were released in the U.S. The U.S. Commerce Department reported that the economy finally regained a faster than expected 3.5 percent growth in the last quarter of 2006. Analysts previously predicted only a 3 percent increase in growth rates. U.S. labor costs increased slightly by rising 0.8 percent in the last quarter of 2006 and the government price index, excluding food and energy went up 2.1 percent, slowing from 2.2 in the previous qaurter. U.S. data is a major factor into the U.S. Federal Reserve's decision making regarding interest rates. Current data has indicated positive movement in the U.S. economy.
In the foreign exchange, the Euro was worth 1.2966 U.S. Dollars compared with 1.2961 U.S. Dollars in the previous day's trading in New York. The Pound Sterling rose to 1.9526 U.S. Dollars from the previous trade of 1.9615 U.S. Dollars. Against the Japanese Yen, The U.S. Dollar fell to 121.54 Yen compared to the previous trade of 121.62 Yen.
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