Investing.com - The dollar held onto gains against the other majors currencies on Wednesday, as investors awaited the release of a string of U.S. economic reports later in the day, as well as the conclusion of a highly-anticipated OPEC meeting.
EUR/USD eased 0.08% to 1.0642.
The greenback remained broadly supported by expectations that increased fiscal spending and tax cuts under the Trump administration will spur economic growth and inflation.
Expectations that the Federal Reserve will raise interest rates at its December policy meeting also continued to underpin the U.S. dollar.
In the euro zone, data earlier showed that the consumer price index rose by 0.6% this month, in line with forecasts and the biggest increase since April 2014.
A separate report showed that the number of unemployed people in Germany declined by 5,000 in November, in line with expectations.
Data also showed that German retail sales increased by 2.4% in October, beating expectations for a 1.0% rise. However, year-on-year, German retail sales dropped 1.0% last month.
Elsewhere, GBP/USD held steady at 1.2491.
USD/JPY advanced 0.55% to 113.00, while USD/CHF added 0.15% to 1.0133.
The Australian dollar was weaker, with AUD/USD down 0.27% at 0.7463, while NZD/USD climbed 0.41% to 0.7157.
Earlier Wednesday, the Australian Bureau of Statistics reported that building approvals dropped 12.6% in October, confounding expectations for a 1.5% gain.
Data also showed that the ANZ business confidence index for New Zealand slipped to 20.5 this month from a reading of 24.5 in October.
Meanwhile, USD/CAD slipped 0.15% to trade at 1.3412.
Market participants were also looking ahead to Wednesday’s OPEC meeting, amid growing uncertainty over the possibility for a production cut deal.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.10% at 101.09, still close to recent 14-year highs of 102.12.