The dollar was mostly lower through the N.Y. session on Monday, with USD-JPY being the notable exception. That pairing, which has slid to 107.85, after closing at 108.75 on Friday, came roaring back to 108.98 highs, as the severe risk off conditions seen in Asia on Monday subsided. Given the earthquake backdrop in Japan however, the yen is likely to remain strong on the back of repatriation flows. U.S. equities and yields bounced back with oil prices, taking the DJIA over 18,000 for the first time since July.
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