The FX market was fairly quiet in N.Y. trade on Monday, though the dollar lost ground early on the back of a much weaker N.Y. Fed index. Yields slipped as Wall Street tumbled at the open. A better than expected NAHB index at mid-morning however, saw stocks rebound, and the dollar higher as well. EUR-USD opened near 1.1090, peaked at 1.1125 before falling to a low of 1.1059, as USD-JPY fell from over 124.55 to 124.23, before reclaiming the 124.40 level. USD-CAD dropped from 1.3150, and made its way to 1.3060 lows, as oil prices rallied over $43/bbl.
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