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The follow through from Fed Powell's.........>

DOLLAR
DOLLAR: The follow through from Fed Powell's cautious rhetoric on Friday was
evident overnight with the dollar trading lower across the board. The DXY traded
under the 96 level to 95.93 and holds near the base at the European crossover.
The 100-dma at 95.99 seen key today, a level that has not closed below since
September. The Dec1 low provides the next support area at 95.64, ahead of 95.29
which represents the 61.8% retracement of 93.81-97.69. Gold improved to $1292,
targeting a break of Friday's high at $1298.60, ahead of the $1300 pivot level.
While USDJPY touched pullback lows of Y108.02, before stalling ahead of
Y107.80/00 support. Main data release in the US today from ISM non-manufacturing
at 1500GMT. In November, the reading was 60.7. Following the weak manufacturing
numbers last Thursday, a weak service sector read will further rile markets.

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