The U.S. dollar reclaimed some of its lost ground against its major counterparts in the European session on Thursday, as a data showed that the U.S. economic growth slowed less than forecast in the fourth quarter of 2018.

Data from the Commerce Department showed that economic growth in the U.S. slowed in the fourth quarter of 2018, although the pace of growth still exceeded analyst estimates.

The report said real gross domestic product climbed by 2.6 percent in the fourth quarter compared to the 3.4 percent jump in the third quarter. Economists had expected GDP to increase by 2.3 percent.

Data from the Labor Department showed that first-time claims for U.S. unemployment benefits rose more than expected in the week ended February 23.

The report said initial jobless claims climbed to 225,000, an increase of 8,000 from the previous week's revised level of 217,000.

Economists had expected jobless claims to edge up to 220,000 from the 216,000 originally reported for the previous week.

Caution prevailed in global markets due to fading optimism about U.S.-China trade talks, the abrupt end to talks between the U.S. and North Korean leaders and mounting geopolitical tensions.

The summit between Trump and Kim ended with no agreement after North Korea reportedly wanted all sanctions on it lifted in exchange, something the U.S. was not prepared to do.

The greenback traded mixed against its major counterparts in the Asian session. While it fell against the franc and the yen, it held steady against the euro. Against the pound, it rose.

The greenback climbed to a 3-day high of 111.09 against the yen from yesterday's closing value of 110.99. The greenback is poised to challenge resistance around the 113.00 level.

Having dropped to more than a 3-week low of 1.1420 against the euro at 6:45 am ET, the greenback reversed direction and strengthened to 1.1380. The greenback is seen finding resistance around the 1.12 level.

The greenback appreciated to 1.3264 against the pound, from a low of 1.3319 hit at 7:45 pm ET. Next key resistance for the greenback is seen around the 1.31 level.

Survey data from the Nationwide Building Society showed that UK house price inflation accelerated sharply in February, after slowing in the previous two months, and the pace exceeded economists' forecast.

The house price index rose 0.4 percent year-on-year following a 0.1 percent increase in January. Economists had expected a 0.3 percent gain.

Reversing from its early lows of 1.3141 against the loonie, 0.7166 against the aussie and 0.6853 against the kiwi, the greenback firmed to a 2-day high of 1.3207, 6-day highs of 0.7117 and 0.6814, respectively. The next possible resistance for the greenback is seen around 1.34 against the loonie, 0.70 against the aussie and 0.67 against the kiwi.

The greenback recovered slightly to 0.9964 against the franc, from near a 4-week low of 0.9926 seen at 8:00 am ET. The currency had earlier set a session's high of 1.0015 at 5:00 pm ET. If the greenback rises further, 1.02 is possibly seen as its next resistance level.

Data from the Zurich-based KOF Swiss Economic Institute showed that an indicator of Switzerland's future economic performance declined for a fifth consecutive month in February and at a sharp rate, suggesting that the economy is set for some slowdown in the coming months.

The KOF Economic Barometer fell to 92.4 from January's 96.2, which was revised from 95 reported initially. Economists had expected the reading to remain unchanged at 95.

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