The dollar was steady to lower against the other major currencies in subdued holiday trade on Monday, as news the Federal Reserve will begin tapering its stimulus program in January began to settle.
During European morning trade, EUR/USD inched up 0.04% to 1.3678.
The greenback strengthened boradly last week after the Fed announced that it would reduce its USD85 billion-a-month bond buying program by USD10 billion in January. Outgoing Fed Chairman Ben Bernanke said the economy was continuing to make progress.
The U.S. central bank reiterated that interest rates are likely to remain low even after the unemployment rate drops below 6.5%, the threshold at which the Fed has previously said it would start to consider rate increases.
Separately, risk sentiment found some support after official data on Friday showed that U.S. gross domestic product expanded by 4.1% in the third quarter, above initial estimates for 3.6% growth.
The pound was higher against the dollar, with GBP/USD up 0.17% to 1.6356.
Elsewhere, the greenback was steady to lower against the yen and the Swiss franc, with USD/JPY down 0.11% to 103.98 and steady against the Swiss franc, with USD/CHF easing up 0.03% to 0.8964.
The greenback was steady to lower against the Australian, New Zealand and Canadian dollars, with AUD/USD up 0.08% to 0.8930, NZD/USD dipping 0.01% to 0.8199 and USD/CAD down 0.01% to 1.0634.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.09% to 80.67.
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