The dollar majors aren't much changed as European markets commence trading in the new week. Thin end-of-year conditions are a factor, while the forex market appears to have fully factored in an 25 bp rate hike from the Fed at the Dec-16 FOMC. Much weaker than expected German industrial production, which came in at +0.2% m/m from, had only a minimal impact on the euro, which shed less than 10 pips against the dollar before finding a footing. EUR-USD is presently anchored in the mid-1.08s, in a consolidation mode after last Thursday's surge from sub-1.06 levels.
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