1st LD Writethru: U.S. dollar declines amid GDP report

The U.S. dollar went down against most major currencies on Friday as the GDP report showed the country's economic growth was unchanged in the fourth quarter of 2014.

U.S. Department of Commerce announced Friday that the U.S. economy expanded at an annual rate of 2.2 percent in the fourth quarter of 2014, unchanged from the second estimate released last month.

The GDP growth stays unrevised due to the larger-than-expected increases in exports and personal consumption expenditures and smaller-than-estimated change in private inventories, according to the report.

Jay Morelock, an economist at FTN Financial, said in a note that"The relative weakness in Q4 has carried over to the first quarter of this year, with the Atlanta Fed's GDP tracker currently projecting a 0.2 percent GDP growth for Q1 2015."

The dollar index, which measures the greenback against six major peers, was down 0.09 percent at 97.352 in late trading.

Meanwhile, data showed U.S. consumer sentiment rebounded in late March. The final Thomson Reuters/University of Michigan's consumer sentiment index ended March at 93.0, up 1.8 points from mid-month March of 91.2.

In late New York trading, the euro increased to 1.0899 dollars from 1.0872 dollars in the previous session, and the British pound rose to 1.4873 dollars from 1.4840 dollars. The Australian dollar went down to 0.7756 dollars from 0.7814 dollars.

The U.S. dollar bought 119.10 Japanese yen, lower than 119.24 yen of the previous session. The U.S. dollar edged down to 0.9608 Swiss francs from 0.9633 Swiss francs, and it climbed to 1.2600 Canadian dollars from 1.2478 Canadian dollars. Endite