The U.S. dollar held steady against major currencies in a quiet trading session on Tuesday, as many market participants remained on holiday. Trading volumes were significantly lower than usual, resulting in limited price movement.

The dollar index, which measures the greenback against a basket of six major currencies, traded narrowly. The euro, Japanese yen, and British pound all saw minimal fluctuations against the dollar.

Analysts attributed the dollar’s stability to a combination of factors, including recent positive economic data and expectations of further interest rate hikes by the Federal Reserve in the coming year.

Looking ahead, investors will be closely watching upcoming economic releases, including reports on consumer confidence and manufacturing activity, for further clues about the health of the U.S. economy and the potential path of monetary policy.

The subdued trading conditions are expected to persist for the remainder of the week, with market activity likely to pick up in the new year.