The dollar was mostly higher as the New Year kicked off in N.Y., though yields slipped, and equities were crushed in the aftermath of China's overnight stock melt-down. U.S. equities fared better than European stocks did, perhaps lending a bit of a safe-haven bid to the greenback. U.S. data was not pretty however, as both manufacturing ISM and construction spending both missed the mark. EUR-USD fell to one-month lows of 1.0782 before recovering some, while USD-JPY reclaimed the 119 handle, rallying to 119.50. Cable meanwhile, made nearly nine-month lows of 1.4665.
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