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Markets quiet during the festive period

The dollar eased against a basket of currencies and fell against the euro today in thin holiday trading, while a rally in commodity prices helped push the Canadian and Australian dollars to their highest levels in two months.

There was a flash crash on the euro/dollar 2 days back, seeing the rate drop by 3% due to low liquidity in the markets.

Traders said there was little news to support the euro’s rise, but some investors have positioned for a possible strengthening in the single currency into the new year following a stellar 2017 in which the euro had its best year against since 2003.

Sterling markets are quiet – with no economic data this week we expect the markets to stay stagnated.

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