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Forex News: U.S. Dollar Seeing Modest Weakness After Overnight Strength

U.S. Dollar Seeing Modest Weakness After Overnight Strength

01/25/2023 - 16:29:00 (RTTNews)

(RTTNews) - The value of the U.S. dollar has fluctuated over the course of trading on Wednesday as traders look ahead to the release of some key economic data in the coming days.

After seeing some strength in early morning trading, the U.S. dollar index has moved modestly lower and is currently down 0.28 points or 0.3 percent at 101.64.

The greenback is trading is 129.56 yen compared to the 130.17 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.0915 compared to yesterday's $1.0887.

The volatility on the day comes as traders look ahead to reports on fourth quarter GDP, durable goods orders and weekly jobless claims due to be released on Thursday as well as reports on personal income and spending and consumer sentiment due to be released on Friday.

The data could impact the outlook for the economy and interest rates ahead of next week's Federal Reserve meeting.

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