The market has been very quiet overnight with only some modest flows in CAD, AUD and NZD being reported. The majors have been especially quiet and I expect it to stay this way.

My current thinking is that the USD and GBP will stay strong through the holidays, the AUD will re-bound on the crosses, and the NZD, CAD and JPY will encounter selling pressure. I’m neutral on the EUR.

If anything unexpected develops, I will certainly burden all with my views, but otherwise I’m hoping for a few quiet days to re-charge the batteries.