The dollar managed to gain some ground in N.Y. on Monday, following sharp losses seen last week. The DXY recovered to 89.61 after printing three-plus year lows of 88.44 on Friday. The market appears to be preparing for a more hawkish FOMC statement on Wednesday, which has prompted a round of dollar short covering. EUR-USD slipped to 1.2337 lows before recovering some, while USD-JPY trclaimed the 109 handle, topping at 109.20. USD-CAD found a floor into 1.2325 as oil prices faded, while cable eased back to 1.4025.
[EUR, USD]