U.S. dollar falls despite upbeat data

The U.S. dollar slipped against most major currencies on Tuesday despite positive economic growth data from the country.

U.S. real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2016, according to the "second" estimate released by the Commerce Department Tuesday. In the second quarter, real GDP increased by 1.4 percent.

The latest reading was slightly higher than market consensus of a 3.1-percent gain.

The dollar index, which tracks the greenback against six major peers, went up 0.3 percent to 101.62 following the release of GDP data in the morning session. It then went down to settle at 100.970 in late trading on Tuesday.

Analysts said that the decline in the dollar was due to investors' profit-taking after recent gains and that the greenback was still on track for its strongest two-month gain since early 2015.

In late New York trading, the euro rose to 1.0642 dollars from 1.0598 dollars, and the British pound climbed to 1.2503 dollars from 1.2421 dollars. The Australian dollar increased to 0.7486 dollars from 0.7479 dollars.

The dollar bought 112.40 Japanese yen, higher than 112.22 yen in the previous session. The dollar inched down to 1.0117 Swiss francs from 1.0139 Swiss francs, and it fell to 1.3418 Canadian dollars from 1.3420 Canadian dollars. Enditem