XE Market Analysis: Europe – Dec 18, 2017

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The dollar has traded mixed in mostly narrow ranges so far to day, with liquidity much reduced this week as holidays loom and participants wind down ahead of the new year. USD-JPY saw some chop, dipping to a 112.44 low in early dealings before recouping to a peak of 112.83. A risk-on theme in Asia, which followed a positive session on Wall Street on Friday, helped the yen reverse out of early gains, as did the Tankan’s survey on business inflation expectations, which showed a continued prognosis of benign price pressures.