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Dollar moves mixed against major currencies in thin holiday trading

Dollar moves mixed against major currencies in thin holiday trading

The dollar traded mixed against the other major currencies Friday in light holiday trading ahead of the three-day New Year's weekend.
In afternoon New York trading, the 12-nation euro bought $1.3198, up from $1.3146 late Thursday in New York. The British pound, however, slipped to $1.9586 from $1.9628.
The dollar also strengthened against the Japanese currency, rising to 119.05 yen from 118.93 yen late Thursday.
Currency trading remained thin throughout the week because of the two holidays, while other investors waited for the new year to make new trades, according to David Solin, a partner at Foreign Exchange Analytics in Essex, Conn.
The dollar was buoyed against the pound and yen by the release of stronger-than-expected economic data on Thursday. Consumer sentiment bounced back in December and rose to 109.0, up from a revised 105.3 in November, according to the New York-based Conference Board.
Meanwhile, sales of previously owned homes inched up by 0.6 percent in November, the first back-to-back gains since the spring of 2005, the National Association of Realtors reported. Also, the number of newly laid-off workers filed for jobless claims last week rose less than most analysts' expectations.
The markets are closely watching incoming economic data to determine the Federal Reserve's next move on interest rates. Stronger reports could force the central bank to raise rates after holding steady for four straight meetings, while data indicating a slowing economy may prompt a rate cut.
In other New York trading, the dollar bought 1.2188 Swiss francs, down from 1.2221 late Thursday, and 1.1649 Canadian dollars, up from 1.1607.


Updated : 2021-06-15 13:04 GMT+08:00