The dollar slumped to a record low against the euro on Friday after a soft reading on U.S. growth but later pared losses on a report showing consumer confidence was better-than-expected in April. The consumer confidence survey for April lent support to the dollar after the currency fell sharply on news the economy grew just 1.3 percent in the first quarter, although the market's bias overall was still to sell the dollar.
A survey showed on Friday that U.S. consumer sentiment fell in April to its lowest in seven months but was better than first estimated for the month and above market expectations. Consumer sentiment was helped by the recent rally in the stock market. The dollar edged higher after the report, pushing the euro to $1.3654 from $1.3670 previously. Earlier, the euro hit a lifetime peak of $1.3683, according to electronic trading platform EBS, after the softer-than-expected U.S. gross domestic product data.
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