The U.S. dollar rate traded multidirectional against the euro and yen on Monday afternoon, trading data showed.

The euro against the dollar is rising to $1.0625 from a previous closing level of $1.0614; the dollar against the yen is up to 133.17 yen from 132.79 yen; the pound against the dollar is up to $1.2079 from a previous closing level of $1.2058. 

What affects the dollar rate today? 

On Monday, trading volume was significantly lower; stock exchanges in the U.S., Europe and some Asian countries are closed for the Christmas holidays. That’s why the trading dynamics in the Euro / U.S. Dollar currency pair is relatively weak. 

Markets also continue to assess the data released last week. Thus, the U.S. GDP growth estimate for the last quarter was upgraded to 3.2% on an annualized basis from 2.9%.

Meanwhile, U.S. personal income rose 0.4% in November compared to October and consumer spending increased by 0.1% month-over-month. And the University of Michigan’s Consumer Sentiment Index, a measure of household confidence in the U.S. economy, rose more than forecast in December, to 59.7 points from November’s 56.8.

“The final week of key U.S. economic releases this year contained more members than holiday sock puppets, hinting at a dead slow ahead as all signs point to slower economic growth next year,” the Associated Press quoted SPI Asset Management analyst Stephen Innes as saying.

Earlier, we reported that the Yuan is on the plus side; investors are waiting for China’s industrial PMI.