Greenback steady despite weak US GDP data

Tokyo

THE US dollar was steady on Monday despite a first-quarter contraction in the US economy as investors look for clues to a pick-up that would justify an interest rate rise this year.

In Tokyo afternoon trading, the greenback bought 124.08 yen, slightly down from 124.12 yen in New York on Friday, and also off the 12-year high of 124.46 yen touched last week.