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U.S. dollar rises amid thin trading

Xinhua, December 31, 2015 Adjust font size:

The U.S. dollar gained against most major currencies Wednesday amid thin trading in holiday season.

Given the considerable improvement in labor market conditions this year and the confidence that inflation will rise, traders believed that the U.S. Federal Reserve, the central bank, will continue the rate hike in 2016.

The dollar index, which measures the greenback against six major peers,was up 0.18 percent at 98.3 in late trading.

In late New York trading, the euro fell to 1.0924 dollars from 1.0939 dollars of the previous session, and the British pound decreased to 1.4828 dollars from 1.4829 dollars. The Australian dollar went down to 0.7286 U.S. dollar from 0.7302 dollar.

The U.S. dollar bought 120.854 Japanese yen, higher than 120.38 yen of the previous session. The dollar moved down to 0.9872 Swiss franc from 0.9913 Swiss franc but moved up to 1.3898 Canadian dollars from 1.3821 Canadian dollars. Endit