Fairly quiet Monday morning as holiday period begins
- AUD/USD is back below 1.0400, with dealers still reporting stops below 1.0380 in thin trade:
- EUR/USD is reacting to fiscal cliff headlines and progress (or lack thereof):
- EUR/USD buyers still reported towards 1.3120:
- Italian PM Monti confirms he will not seek re-election:
- Japanese PM elect Abe was extensively quoted in weekend press upping the pressure on the BOJ:
- Abe’s comments re USD/JPY, that rates 85+ would greatly help exporters, are unlikely to get bulls too fired up seeing as we are trading at 84.40:
- Shortened session today in many centres due to holidays but Japan will be open.