FXstreet.com (London) - Dollar has again traded without any sharp moves against any of its major trading partners. Investors all seem to be resting on the sidelines, not prepared to place new positions until the start of the new year.
Nikkei has clawed back earlier loses and now trade close to flat on the session, with the Kospi however trading down 0.7%. Local stock markets are also trading very thin in the heart of the holiday period. With market players either on leave or not keen to take new positions, we expect similar trading to continue in the final two Asian session of 2009. Notably US stock markets look likely to close on year highs as investor sentiment closes the year on a high.
The summary picture of the major Dollar pairs as we approach the close look like this: EUR/USD 1.4366/70 (-0.08%), Swissy 1.0352/64 (+0.08%), Cable 1.5999/04 (+0.01%), USD/JPY 91.73/73 (+0.13%).
Soft trade seems set to continue in London and US later today.