JPY
On Monday, the US dollar traded practically with no change, against the Japanese yen, remaining nearly the recent highs, while investors were making last deals at the end of the year.
The low trading volumes rather than any fundamental factors affected the currency dynamics that is typical for the period between Christmas and New Year.
The greenback showed a significant growth in December and, as for now, it is around a 2-month high versus the yen, reached last week. Also, it is keeping the most positions, won against other currencies in December, although there are differences in rates compared to last Thursday’s figures.
On Monday, the markets of the UK, Canada and some other countries were closed and many investors were on vacations in countries where the markets were open. The slight trading volumes exaggerated exchange rate fluctuations.
USD
The American dollar slid slightly against most major currencies during the deals on Monday. At that, the dollar was trading in tight ranges, while investors corrected positions at the end of the year.
Analysts marked that the exchange fluctuations were more determined by low trading volume typical for the period between Christmas and New Year than the fundamental factors. On Monday, none important US economic data was released that is why the trading pace was set by the liquidity level.
Best regards,
analyst: Vladimir Donin.
