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Forex News: U.S. Dollar Little Changed Amid Lackluster Trading

U.S. Dollar Little Changed Amid Lackluster Trading

08/30/2022 - 16:22:00 (RTTNews)

(RTTNews) - The value of the U.S. dollar has shown a lack of direction over the course of trading on Tuesday, extending the lackluster performance seen in the previous session.

Currently, the U.S. dollar index is little changed, down by just 0.04 points or less than a tenth of a percent at 108.79.

The greenback is trading at 138.74 yen compared to the 138.72 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0020 compared to yesterday's $0.9997.

The choppy trading in the currency markets comes as traders weigh the likelihood of further interest rate hikes against the dollar's appeal as a safe haven.

On the U.S. economic front, the Conference Board released a report this morning showing consumer confidence rebounded by more than expected in the month of August.

The Conference Board said its consumer confidence index jumped to 103.2 in August from a downwardly revised 95.3 in July.

Economists had expected the consumer confidence index to climb to 97.4 from the 95.7 originally reported for the previous month.

A separate report from the Labor Department showed the number of job openings was little changed at 11.2 million on the last business day of July

A report on private sector employment may attract attention on Wednesday, as traders look ahead to the Labor Department's more closely watched monthly jobs report on Friday.

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