Dollar index edges higher ahead of U.S. data

Posted on at - The dollar edged higher against a basket of other major currencies on Wednesday as investors looked ahead to a series of U.S. economic reports later in the day, ahead of Thursday’s Thanksgiving holiday.

Dollar index edges higher ahead of U.S. dataDollar index pushes higher before U.S. data

EUR/USD touched session lows of 1.2444 and was last down 0.15% to 1.2454.

The euro slid to session lows after European Central Bank vice-president Vitor Constancio said Wednesday could begin implementing quantitative easing measures as soon as the first quarter of next year.

USD/JPY was down 0.20% to 117.72, off Tuesday’s highs of 118.56.

The dollar turned broadly lower on Tuesday after lackluster data on consumer confidence and house price inflation offset a report showing that U.S. economic growth was far stronger than initially estimated in the third quarter.

The Conference Board reported that its consumer confidence index fell to a five month low in November, and another report showed that U.S. house prices rose more than expected on a year-over-year basis September, but were unchanged on a monthly basis.

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