2017.11.2014:53:00UTC+00Dollar Mixed After Paring Early Losses

The dollar got off to a weak start Monday morning, but has since pared its early losses against its major rivals. The buck is now up against the Euro and the Japanese Yen, but remains down slightly against the British pound.

The upcoming Thanksgiving Day holiday on Thursday is likely to keep some traders away from their desks, leading to light trading throughout the week. Economic data was on the light side this morning, but the lone U.S. report that was released came in better than anticipated.

With the impact of recent hurricanes dissipating, the Conference Board released a report on Monday showing a much bigger than expected jump by its index of leading U.S. economic indicators in the month of October.

The Conference Board said its leading economic index surged up by 1.2 percent in October after inching up by a revised 0.1 percent in September. Economists had expected the index to climb by 0.6 percent compared to the 0.2 percent drop originally reported for the previous month.

Eurozone's economic recovery remains strong, but inflation is yet to show a sustained upward trend, and the European Central Bank's decision in October to reduce the size of asset purchases and continue them for another nine months will ensure that the economy is supported by the right amount of monetary stimulus, ECB President Mario Draghi said Monday.

"The re-calibration of our policies for the period beyond the end of this year is meant to preserve the degree of monetary stimulus that is still necessary to secure a sustained return of inflation rates towards levels below, but close to, 2 percent in the medium term," Draghi said at a hearing of the European Parliament's economic and monetary affairs committee in Brussels.

The dollar dropped to an early low of $1.1808 against the Euro Monday, but has since climbed to around $1.1735.

Germany's producer price inflation eased in October, in line with expectations, data from Destatis showed Monday. The producer price index climbed 2.7 percent year-over-year in October, slower than the 3.1 percent rise in September.

The buck fell to a 2-week low of $1.3279 against the pound sterling Monday morning, but has since rebounded to around $1.3235.

The greenback has risen to around Y112.700 against the Japanese Yen this afternoon, from an early low of Y111.943.

Japan posted a merchandise trade surplus of 285.385 billion yen in October, the Ministry of Finance said on Monday, down 40.7 percent on year. The headline figure was shy of expectations for a surplus of 330.0 billion yen and was down from 670.17 billion yen in September.