The Monday N.Y. session was an uneventful return from Christmas break for the FX market, with largely sideways action seen in the major dollar pairings. More of the same can be expected into New Year's eve on Thursday, as many desks have long closed their books for the year. EUR-USD ranged between 1.0959 and 1.0987 through the session, while USD-JPY managed a 120.49 to 120.21 band. Wall Street suffered from China weakness overnight, as yields slipped back, particularly at the short end. Aside from a weak Dallas Fed index, the data calendar was empty.
[EUR, USD]
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