FX trade was relatively subdued to start the N.Y. week, though the dollar overall maintained a softer footing throughout the session. Risk-off conditions kept pressure on the greenback, versus the yen and euro in particular. EUR-USD peaked at 1.1129 into the London close, as USD-JPY found support just above 123.00. After briefly dipping under 1.3000, USD-CAD maintained the figure through the session, as oil prices made new three-plus month lows. Cable recovered to just under the 1.5600 mark. A better durable report had little impact, as yields and Wall Street both slipped.
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