The dollar lost ground through the European...>

FOREX: The dollar lost ground through the European morning, as concerns over a

source story in the Washington Post stating that Republican leaders are

considering a one-year delay in the implementation of a major corporate tax cut.

As NY entered the fray there was a some demand for dollars but it was somewhat

limited. Tax talk, geo-political concerns and oil was the catalyst for any moves

in a very quiet session.

-Aussie: The Aussie started to slowly edge higher throughout the European

morning as traders attributed the move to eur/aud. The pair went onto print

session highs of $0. As NY arrived the rate went on to print new highs of

$0.7685. The pair went into consolidation mode bouncing between $0.7670-80.

-YEN: Traders reported stops were triggered on the break of Y113.50, rate

touched extended pullback lows of Y113.40 in early NY. The dollar slowly grinded

higher through the NY session grinding to recovery highs of Y113.79.

-EUR: The highlight of the session was at the 4PM GMT WMR fix where the rate

dropped sharply from $1.1600 to session lows of of $1.1579. The rate slowly

pared back it losses grinding back towards $1.1600.