(Bloomberg) -- The dollar fell as revised data showed the U.S. economy shrank for the first time in three years, increasing the case for the Federal Reserve to maintain record-low borrowing costs to stimulate growth.
The U.S. currency weakened as gross domestic product contracted 1% in the three months through March, government figures showed today, after a reading last month signaled 0.1% expansion. The dollar fell earlier against the yen as Treasury 10-year note yields declined to a nine-month low relative to similar-maturity Japanese government debt.
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