There was light action in forex markets on Friday as traders settled down for the Christmas holidays, although the sentiment remains bullish for more dollar gains in the New Year as yield spreads widen in its favor.
As Tokyo was already absent, the greenback was dozing at 117.50 yen down from 118.66 yen a week ago, its strongest since early February. USD/JPY recovered almost to where it started the year, having fallen as low as 99.00 in June.
EUR/USD was slightly firmer at 1.0440, having bounced back only modestly from a nearly 14-year low of 1.0350 set earlier in the week.
On behalf of the Realtime Forex team, I would like to wish all our followers a Merry Christmas and happy holidays. See you all next year!
