Dollar Little Changed In Light Holiday Action

The dollar is turning in a mixed performance Tuesday afternoon, but has barely budged in light trading action. A number of global markets remain closed following yesterday's Christmas Day holiday. With the impending New Year's Day holiday approaching, trade will likely remain on the light side throughout the week.

Economic data was on the light side this morning, but traders can look forward to the release of consumer confidence and pending home sales Wednesday morning. Weekly jobless claims and international trade are slated for Thursday, while the Chicago PMI is set for Friday.

The dollar rose to an early high of $1.1846 against the Euro Tuesday, but has since retreated to around $1.1865.

The buck reached a high of $1.3346 against the pound sterling Tuesday morning, but has since dropped to around $1.3385.

The greenback has fallen to around Y113.145 against the Japanese Yen this afternoon, from an early high of Y113.351.

Japan's consumer price inflation accelerated unexpectedly in November, though marginally, the Ministry of Internal Affairs and Communications said on Tuesday.

Excluding fresh food, consumer prices climbed 0.9 percent year-over-year in November, just above the 0.8 percent rise in October.

Meanwhile, economists had expected the inflation to remain stable at 0.8 percent.

Japan's unemployment rate decreased in November after remaining stable in the previous four months, data from the Ministry of Internal Affairs and Communications showed Tuesday.

The seasonally adjusted jobless rate fell to 2.7 percent in November from 2.8 percent in October. Moreover, the latest jobless rate was the lowest since 1993.