Dollar steady to lower vs. rivals in subdued trade
Investing.com
Published Dec 23, 2013 05:06AM ET
Dollar steady to lower in holiday-thinned trade
During European morning trade, EUR/USD inched up 0.04% to 1.3678.
The greenback strengthened boradly last week after the Fed announced that it would reduce its USD85 billion-a-month bond buying program by USD10 billion in January. Outgoing Fed Chairman Ben Bernanke said the economy was continuing to make progress.
The U.S. central bank reiterated that interest rates are likely to remain low even after the unemployment rate drops below 6.5%, the threshold at which the Fed has previously said it would start to consider rate increases.
Separately, risk sentiment found some support after official data on Friday showed that U.S. gross domestic product expanded by 4.1% in the third quarter, above initial estimates for 3.6% growth.
The pound was higher against the dollar, with GBP/USD up 0.17% to 1.6356.
Elsewhere, the greenback was steady to lower against the yen, with USD/JPY down 0.11% to 103.98 and steady against the Swiss franc, with USD/CHF easing up 0.03% to 0.8964.
The greenback was steady to lower against the Australian, New Zealand and Canadian dollars, with AUD/USD up 0.08% to 0.8930, NZD/USD dipping 0.01% to 0.8199 and USD/CAD down 0.01% to 1.0634.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.09% to 80.67.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.