The dollar edged lower a basket of other major currencies in quiet trade on Thursday, as investors awaited the release of U.S. economic reports later in the say, although expectations for a U.S. rate hike in the coming months continued to support. USD/JPY was up 0.35% to 124.09, the most since June 2002. Demand for the dollar continued to be underpinned as economic data released in the past week, including reports on inflation, new home sales, business investment and consumer confidence all indicated that the U.S. economy is gaining momentum after a slowdown in the first quarter. Expectations that the economy will rebound from the first quarter have supported the view that the Federal Reserve will begin to hike interest rates around September. EUR/USD was up 0.35% to 1.0942. The single currency found some support after the Greek government said it had started drafting an agreement with its international creditors, signaling progress in long-running negotiations to unlock more financial aid. However, European officials played down suggestions of a deal, saying negotiators still had much work to do before reaching an agreement. The pound was lower, with GBP/USD shedding 0.28% to 1.5315, while the Swiss franc edged higher, with USD/CHF down 0.35% to 0.9462. Sterling weakened after the U.K. Office for National Statistics’ second estimate of gross domestic product confirmed growth of 0.3% % in the first quarter, unchanged from the initial estimate and below expectations for a reading of 0.4%. On a year-over-year basis, GDP expanded 2.4%, also in line with the first estimate. The commodity-linked currencies were weaker, with AUD/USD dropping 0.96% to 0.7658 and with NZD/USD down 0.54% to trade at 0.7233. USD/CAD rose 0.31% to six-week highs of 1.2492. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.13% at 97.22, still close to Wednesday’s five-week highs of 97.88.