Aside from USD-CAD, which rallied on sharply lower oil prices, the dollar was softer through the morning N.Y. session on Tuesday. With no data to push prices, the FX market muscled the greenback lower as risk-off conditions set in. Wall Street and yields were down, as was oil, which fell nearly $2/bbl from session highs. EUR-USD opened the session at 1.1000, made its way to 1.1057 highs into the London close, before falling back to 1.1000 again. USD-JPY opened near 113.10, and fell to 112.43 on the soft risk backdrop.
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