NEW YORK (TheStreet) - The U.S. dollar is softer on the last trading day of the year with position squaring likely the main driver.
With the economic calendar light, the euro traded in narrow ranges throughout most of the session until early European interest saw it pop up to $1.3385 from $1.3300.
Sterling consolidated after modest buying interest as it lost support following a better-than-expected nationwide house price report, topping out around $1.553.
Meanwhile, EUR/CHF benefited from euro buying interest and recovered the 1.2500 clip, but USD/CHF remained heavy after trading at new record lows of 0.9339.
Elsewhere, the yen was stable, remaining close to JPY81.30, while the antipodean's were mixed with the Australian dollar trailing gains in the New Zealand dollar, which held steady above NZ$0.770.
Global equities are mixed on the last day of trading with European stocks soft while Asian equities closed the year on a solid footing. U.S. index futures point to a weaker opening.
There are no data releases in the U.S. this morning but tonight China reports its December PMI manufacturing index, which is expected to drop to 55.0 from 55.2. In addition, South Korea releases it December trade figures.
