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US Session recap: Dollar giving back some ground

FXStreet (Barcelona) - The US session had the dollar giving back further gains while US stocks and yields were the main driving force behind a lower US dollar on a non eventful day in the US with there being holidays in North America.

USD/JPY weighed to the downside, threatening the 107 handle while marking new four week lows. The pair came under the mercy of US yields dropping while stocks in Wall Street were coming off bringing support into the Japanese currency.

The EUR/USD penetrated the 1.27 handle with short term closes testing resistance at 1.2720. The pair is now contesting the bearish run but overall pressures remain with the downward until the pair is able to break the support in the region of 1.2620.

GBP/USD was moderately bid after falling in Europe and is currently seeking out territory through 1.6100 again. With there being a lack of impetus from holidays in the US and non-eventful calendar, attention will remain with the UK’s releases coming up tomorrow and Wednesday.

US indexes driving force - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the markets had little to offer on Monday, with half holidays extending from Asia to America.
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