Dollar boosted by economic data

Economic worries have weighed on the dollar in recent days

The dollar recovered from 20-month lows against the euro on Wednesday after it was boosted by a surprisingly large upward revision to US economic growth.

With figures showing the US economy grew by a healthy 2.2% in the third quarter of 2006, the dollar hit $1.31 on the euro in late New York trading.

Earlier in the day it had weakened to $1.32 after a fall in both the price of US goods and consumer confidence.

The latest US economy figures show that its slowdown is less than feared.

It also helped the dollar recover against the yen to 116.36 yen, after hitting 115.75 earlier in the day.

Against sterling, the dollar remained around the $1.94 level.