The U.S. economy grew faster than initially reported during the first three months of 2017, easing concerns about a potential slowdown in the U.S. economy.Gross domestic product grew at an annualized rate of 1.2% in the first three months of 2017, according to the Bureau of Economic Analysis’s, well above the previous reading of 0.7%, which was the slowest period of economic growth since 2014.The dollar leaped to a four-day high, and pressured commodity prices across the broad, as expectations for a June rate hike rose to its highest level this week .According to investing.com’s Fed rate monitor tool more than 80% of traders expect the Federal Reserve to hike its benchmark rate in June, compared to below 70% of traders in the previous week.