The Dollar rose in light trading on Wednesday with higher U.S. bond yields as data suggested a modest pace of economic expansion into year-end, albeit perhaps not enough for the Federal Reserve to quicken its pace on future rate increases.
"Higher U.S. Treasuries yields is providing some support for the dollar," said Eric Viloria, currency strategist at Wells Fargo Securities in New York. "Data on the margin are somewhat helping the dollar as well."
The latest snapshot on the consumer sector, which accounts for two-thirds of the U.S. economy, offset disappointing data on durable goods orders and new home sales.
The Dollar index, which tracks the greenback against a basket of six currencies, was last up 0.3 percent at 98.494 after three losing sessions. It held above its 50-day moving average, signaling its bullish trend remains intact.The euro slipped 0.6 percent to $1.0889 and 0.7 percent to 131.71 yen.
The dollar fell for a fourth straight session against the yen, last down 0.1 percent at 120.95 yen.Analysts expected the greenback to stay within its recent trading ranges against major currencies as trading volume falls further due to year-end holidays.
The dollar fell for a fourth straight session against the yen, last down 0.1 percent at 120.95 yen.Analysts expected the greenback to stay within its recent trading ranges against major currencies as trading volume falls further due to year-end holidays.
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