Dollar higher on upbeat consumption data
Currencies Direct December 24th 2013 - < 1 minute read
The dollar steadied against most major currencies on Tuesday
(December 24th) after giving back some of its recent gains as
upbeat consumption data boosted bond yields.
USD/JPY climbed to 104.26, not far off a five-year high for the
greenback over the yen hit last Friday as the dollar was sent
broadly higher in the wake of the Fed’s decision to scale
back bond purchases.
The euro was also lower, with EUR/USD trading down 0.1 per cent
Meanwhile the dollar advanced against the Swiss franc having
given back some recent gains. USD/CHF pushed to 0.8958 on Tuesday,
not far off a three-week high.
Sterling was steady against the dollar, with GBP/USD caught in a
narrow range between 1.6338 and 1.6364.
Dollar support came as a report showed consumer spending rose in
November at the fastest pace since June. Meanwhile a survey
showed consumer sentiment hit a five-month high heading into
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