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Session Recap: Dollar recedes in quiet session

FXstreet.com (Córdoba) - The FX market saw a quiet start to the week, with Germany France and Switzerland on Whit Monday holiday. The US dollar trades slightly lower as investors take profits after Friday's rally. USD/JPY pulled back from a fresh 4 1/2- year high on Monday after Japan Economy Minister Amari said that past yen strength has been corrected and that additional yen weakness could have negative consequences.

EUR/USD trades up 0.2% at the 1.2865 area, while GBP/USD hovers around 1.5200, little changed since opening. USD/JPY has steadied at the 102.50 zone after a wild Asian session. AUD/USD remains a touch firmer at the 0.9780 area.

Main Headlines in Europe (in chronological order):

Italian March Industrial orders sa +1.6% m/m, unadjusted -10.0% y/y

Asian equity markets soar Monday

Commodities Brief – Precious metals rebound off Asian lows, crude downside imminent below 96.70 resistance

Portuguese bankers see nervousness rising among EU savers - FT

European equity markets cautiously trading Monday

USD/CAD up around 1.0290/95

The Canadian dollar continues to give ground against its neighbour on Monday, pushing the cross to the area of 1.0290/95 ahead of Chicago Fed National Activity index...
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Flash: EUR breakup risks palpably rising – BMO Capital Markets

According to Stephen Gallo at BMO Capital Markets, “The EUR break-up risks are still rising despite the fact that break-up risk premia are not being factored “into the price” in any major way: be it the CDS market, the bond market, the EUR, or the share prices of European financial institutions.”
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