A good start to the week for the US dollar turned sour on Monday. The dollar beat-out only the Swiss franc while the Canadian dollar was the top performer. Comments from RBA Governor Stevens and Japanese retail sales are due next. We will add a new Premium short ahead of the RBA speech coming up shortly. CADCHF, EURAUD, NZDUSD, GBPAUD, and EURGBP remain in progress, while GBPUSD was stopped out. Pre RBA trade will be posted momentarily.
The dollar can't seem to regain its footing. Coming into New York trading, the dollar was at the top of the FX leaderboard but it unravelled to finish near the bottom. There wasn't a clear catalyst but a soft Markit services PMI hurt.
Better news on Greece lent a bid to the euro as it rose more than 100 pips from the lows at the start of US trading to 1.0923. Greek 10-year yields fell a full percentage point after combative finance minister Varoufakis was taken off EU/IMF negotiations in a sign that Tsipras wants a deal. Late on Monday in a TV interview, he said they will reach a deal.