NEW YORK (CNN/Money) - Bond prices struggled higher Friday as investors felt the tug of two counterbalancing forces: Signs of looming interest rate hikes yet slower-than-expected economic growth.

The dollar rose against most major currencies.

In the Treasury market, the 10-year note ended little changed, leaving its yield at 4.65 percent.

The 30-year bond poked up 1/32 of a point to 100-17/32 to yield 5.34 percent, unchanged from late Thursday. Bond prices and yields move in opposite directions.

The two-year note was also up a hair at 100 to yield 2.73 percent, down from 2.76 yesterday, and the five-year note also inched up 1/32 of a point to 100-23/32 to yield 3.84, which did not pay a yield change.

The dollar, however, had no trouble making solid gains. The greenback rose against both the euro and the yen. The euro bought $1.2164, down from $1.2176 late Thursday.

The dollar bought ¥107.64, up from ¥107.15 late yesterday.

The government reported that its core price index, which measures prices paid by consumers on items other than food and energy, rose at a 2 percent annual rate in the quarter, up from 1.7 percent in the earlier reading. The measure is closely watched by the Federal Reserve for signs of inflationary pressure.

However, the final reading of first-quarter gross domestic product came in at 3.9 percent increase, lower the previously reported increase of 4.4 percent.

Signs of higher inflation would normally hurt bonds since inflation erodes the value of long-term investments. But the weakness in economic growth helped support bonds. Slower growth means the Fed may not be as aggressive in raising rates.

"We got a little bit less growth and a little bit more inflation," Ian Morris, chief economist, HSBC Securities in New York, told Reuters.