Dollar Up Slightly Amid Lack Of Trading Cues

The dollar was a tad higher against the yen during Monday’s trading session in Asia, as the greenback failed to maintain gains from mid-morning buying amid a lack of fresh trading cues.

Around 0450 GMT, the greenback was at 120.45 yen after hitting as high as 120.55 yen. That compares with 120.33 yen in the late afternoon on Friday in Tokyo.
But given only a moderate gain in the benchmark Nikkei Stock Average, the dollar buying didn’t persist, causing the U.S. currency to remain directionless for the rest of the session. The Nikkei rose 0.6% midday.

“The dollar lacks clear direction,” given many other overseas markets still being closed, said a Japanese brokerage house analyst. “But the dollar was not falling as was previously feared.”

“Given a lack of fresh trading cues about the U.S. economic fundamentals, it’s hard to assume a further dollar selling,” the analyst said.

The U.S. currency was flat against the euro, which fell slightly to $1.0976 from $1.0965 Friday. Against the yen, the bloc’s single currency rose to 132.20 yen from 132.08 yen.

The WSJ Dollar Index, a measure of the dollar against a basket of major currencies, was down 0.06% at 89.63.

Interbank Foreign Exchange Rates At 00:50 EST / 0450 GMT

Latest Previous %Chg Daily Daily %Chg
Dollar Rates Close High Low 12/31

USD/JPY Japan 120.44-45 120.25-26 +0.16 120.52 120.25 +0.60
EUR/USD Euro 1.0976-79 1.0976-79 0.00 1.0981 1.0967 -9.27
GBP/USD U.K. 1.4920-22 1.4830-32 +0.61 1.4928 1.4831 -4.22
USD/CHF Switzerland 0.9862-66 0.9884-88 -0.22 0.9886 0.9859 -0.79
USD/CAD Canada 1.3841-46 1.3816-21 +0.18 1.3847 1.3819 +19.12
AUD/USD Australia 0.7268-72 0.7253-57 +0.21 0.7279 0.7255 -11.03
NZD/USD New Zealand 0.6837-43 0.6841-47 -0.06 0.6845 0.6823 -12.25

Euro Rate

EUR/JPY Japan 132.19-23 132.08-12 +0.08 132.22 132.00 -8.78

Source: Tullett Prebon
Read more: http://www.nasdaq.com/article/dollar-up-slightly-amid-lack-of-trading-cues-20151228-00004#ixzz3vanqxyCs

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