Dollar falls after US economic growth slows

The dollar is falling against most other major currencies after the U.S. government said that the economy grew more slowly in the first quarter.

The euro rose to $1.3250 in afternoon trading from $1.3239 late Thursday. The British pound rose to $1.6248 from $1.6198.

The Commerce Department says the U.S. economy grew at an annual rate of 2.2 percent in the January-March quarter, compared with a 3 percent gain in the last quarter of 2011.

The dollar fell to 80.44 Japanese yen from 80.95 Japanese yen and to 0.9063 Swiss franc from 0.9079 Swiss franc. -Sapa