Market Research: USD

Source: Dukascopy Bank SA
Another short week saw little action in the economic calendar, but fairly much activity in the currency rates, with the movements exaggerated by thin pre-holiday volumes. December 29 was the second most active day, with many sharp changes in the currency indexes. Thus, the Loonie's gauge surged with the recovery of oil prices, joined in the direction by its Pacific commodity counterparts. The pound, on the other hand, went through the European session on an across-the-board weakening, pushing the GBP Index below its peers. Other European indexes held steady in the morning, but dipped with the opening of the New York session. Meanwhile, the yen and the dollar remained largely indifferent to the commotion. The most volatile, in turn, was the last day of the year. It saw major downslides in GBP and CHF Indexes, which became the week's worst performers, and upsurges in the Aussie's, Loonie's, the yen's, and the dollar's measures.

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