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    Dollar little changed after upbeat U.S. data

    The dollar was almost unchanged against the other major rivals on Tuesday, even after the release of upbeat U.S. consumer confidence.

    However, investors remained cautious ahead of the Federal Reserve’s policy statement on Wednesday, which is expected to keep interest rate on hold at the conclusion of its two-day policy meeting and the raising interest rates for the first time in almost a decade in December.

    With a score of 98.1 than 96.3 in December, analysts missed expectation of a rise to 96.5 in January of the Conference Board index of consumer in the US more confidence than predicted month reading.

    Commenting on the report, director of The Conference Board Consumer Research Center Lynn Franco said, “For now, consumers do not foresee the volatility in financial markets as having a negative impact on the economy.”  

    On Tuesday, the single currency eased 0.12% against the dollar, with EUR/USD at 1.0837. 

    Elsewhere, the dollar was dropped against the pound, with GBP/USD up 0.55% at 1.4327 and was higher against the Swiss franc, with USD/CHF rising 0.49% to 1.0180. 

    The dollar edged 0.17% against the Japanese yen, with USD/JPY to trade at 118.50.

    The Australian and New Zealand dollars were higher, with AUD/USD up 0.64% at 0.6999 and with NZD/USD edging 0.44% to trade at 0.6485.

    The commodity-related Canadian dollar advanced as oil prices regain some ground and rose back above $30 a barrel. The US dollar remained under pressure against its Canadian counterpart, with USD/CAD was down 1.34% at 1.4095. 

    The U.S. dollar index, which evaluates the greenback’s force against a trade-weighted basket of six major currencies, was steady at 99.28, still close to last Thursday’s more than one-month highs of 99.79.

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