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Dull day for currencies leaves dollar mixed...>

FOREX
FOREX: Dull day for currencies leaves dollar mixed and markets in consolidation
mode
-NOK and AUD rose to the top of G10 after a quiet day in which very few pairs
broke Friday's range. The greenback trades mixed; data and news was few and far
between as markets look ahead to key inflation releases from the US and UK this
week. CAD and NZD were the poorest performers, but still remain well within
recent ranges.
-Europe saw the dollar gain against most others as equity markets traded
moderately risk-off in a low volume session after Japan's market holiday. Risk
appetite returned as US equities recovered, with the DJIA trading higher by as
much as 2% at the session's high.
-Risk aversion in early Europe sent USD/JPY to lows of Y108.44, but the pair
recovered with the Wall Street open, but hasn't managed to seriously challenge
the overnight highs in today's trade.
-Attention turns to UK CPI tomorrow morning and Japanese GDP for Q4 tomorrow
night.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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