Investing.com - The dollar continued to dip down against other major currencies on Thursday after failing to rally from economic data yesterday.
Trading volumes are expected to remain thin during the last week of the year.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.24% at 92.44 by 4:44 AM ET (09:44 GMT).
On Wednesday mixed economic reports left the dollar unchanged. Pending home sales rose by 0.2% month-on-month, compared to an expectation for a 0.4% decline, according to the National Association of Realtors. Meanwhile the Conference Board’s consumer confidence gauge fell to 122.1 in December from a revised reading of 128.6 in November, missing economists' forecast for a reading of 128.
The dollar was nearing its lowest level against the loonie since October 23, with USD/CAD falling 0.37% to 1.2609. The greenback also fell against the Japanese yen, with USD/JPY dipping 0.34% to 112.81.
Elsewhere, the euro rose with EUR/USD increasing 0.32% to 1.1933. On Thursday the European Central Bank released the economic bulletin for December, saying the euro zone was expanding and inflation was expected to rise gradually.
Sterling was also higher, with GBP/USD trading at 1.3447, up 0.34% from earlier.
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