Investing.com – The dollar was little changed against the other major currencies on Tuesday, as trading volumes remained light ahead of the New Year holiday.
Heading into the final week of the year, trading volumes are expected to remain light as many traders already closed books, reducing liquidity in the market which could result in exaggerated moves.
EUR/USD was steady at 1.0965.
Market participants were eyeing a report on U.S. consumer confidence due later in the day after mixed U.S. economic reports released last week failed to offer clues as to how fast the U.S. central bank will raise interest rates next year.
With the first U.S. rate hike since 2006 out of the way, investors are now focusing on the pace of future rate increases.
USD/JPY was little changed at 120.37.
Investors also continued to focus on the current oil rout amid ongoing concerns over a global supply glut and the lack of demand.
Crude oil futures for February delivery were at $36.92 in late Asian trading, not far from the 11-year low of $35.98 hit on December 22.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 98.00.