TOKYO: The dollar was steady in holiday-thinned trading on Tuesday, shrugging off upbeat Japanese economic data as most market participants have already closed their books for the year. Markets in Australia and Hong Kong remained closed after Monday's Christmas holiday, and many financial centres in Europe will also be shut on Tuesday. The market had a muted reaction to data released early on Tuesday which showed that Japan's core consumer prices rose for the 11th straight month, up 0.9 percent year-on-year, and household spending jumped in November. While the inflation rate remains distant from the Bank of Japan's 2 percent target, the rise offered some hope that a steady economic recovery will gradually drive up prices. Minutes of the BOJ's October meeting, released on Tuesday, showed most members shared the view that the central bank should maintain its easy policy.

Source: New Strait Times December 26, 2017 00:45 UTC