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Monday morning snooze fest turned into some U.S. dollar strength after noon, but which was soon followed by a mean reversion move back into the snooze area.
al_dcdemo's Blog
Dollar strength to start the year
Quite a lot of action for a Monday but it's not an ordinary day. A volatile first trading day of 2016 has seen the dollar rise and stock fall. Commodites have been mixed but mostly lower.
Yen was the only major currency that beat the dollar on this risk-off day. Offshore renminbi climbed to new multi year highs while PBOC set yuan reference rate to 6.5032 overnight.
Yen was the only major currency that beat the dollar on this risk-off day. Offshore renminbi climbed to new multi year highs while PBOC set yuan reference rate to 6.5032 overnight.