US dollar ends mixed on a quiet day

The US dollar posted mixed results across the board on a quiet Wednesday session ahead of Christmas and New Year. The Greenback rose against the pound and modestly versus commodity currencies but the declines against the Yen, the euro, and the Swiss franc pushed the Dollar index to the downside. 

The DXY opened around 103.20 and broke below 103.00 during the American session. It bottomed at 102.69, the lowest in two days. From the lows bounced to the upside and it was about to end the day hovering slightly below 103.00. 

Today’s decline represents a retreat after hitting yesterday the strongest level in 14 years at 103.59. The USD failed to consolidate gains despite better-than-expected US data. The existing home sales report showed a gain of 0.7% in November, above market consensus that expected a 1.0% decline. Tomorrow will be an important day regarding US data: 3Q GDP (third estimate), durable goods orders and personal income and spending. 

Calm across financial markets

Equity prices in Wall Street and bond yields were little changed. Gold erased gains during the American session, with the value of the ounce falling back to the $1130 level. Crude oil dropped 1.35% to $52.50 (WTI barrel). 

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