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Dollar holds steady vs. euro, yen ahead of U.S. GDP report

The dollar was steady against the euro and the yen on Tuesday, as trading became more quiet ahead of the Christmas Holiday and as investors awaited the release of U.S. economic growth data due later in the day.

EUR/USD was little changed at 1.0912.

The dollar remained supported after the Federal Reserve hiked interest rates by a quarter of a percentage point to a range between 0.25% and 0.5% in a widely expected move. It was the first rise in U.S. interest rates in nearly 10 years.

Market participants were eyeing the release of a final report on U.S. third-quarter growth for further confirmation of the strength of the economy.

Sentiment on the euro remained vulnerable after inconclusive elections in Spain over the weekend sparked political concerns.

USD/JPY was also steady at 121.19.

Investors also continued to focus on the crude oil market after prices fell to 34.29$ on Friday, the lowest level since 2004, amid renewed worries over a global supply glut.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 98.44

Last modified on Tuesday, 22 December 2015

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