Dollar Stalls Ahead of OPEC Meeting

The dollar fluctuated against the yen and euro, as traders prepared ahead of the OPEC meeting that could possibly turn financial markets and pressure the U.S. currency. The greenback was steady at 112.430 against the Japanese yen while the euro was flat at $1.0648.

The dollar index was little changed at 100.98 after declining 0.4 percent the previous day. The U.S. currency has recently stalled, as Treasury yields showed signs of peaking for now amidst purchasing by investors' month-end portfolio rebalancing. This is probably why the dollar failed to capitalise on latest positive data that showed U.S. third quarter GDP and much-stronger-than-expected November consumer confidence figures. The Canadian dollar was little changed at C$1.3432 a dollar.

The Australian dollar was flat at $0.7485 AUD, within hitting a 12-day peak of $0.7497 the previous day. The pound was fixed at $1.2490 GBP after climbing 0.6 percent the day earlier.


News are provided by InstaForex