The Dollar has traded mostly weaker, with EUR-USD punching out a two-month high within a whisker of 1.1500 while USD-JPY dove to a seven-month low of 109.12. Most of the USD-JPY price action dynamic has been a reflection of general Yen strength, driven by safe haven demand as stock markets across Asia and U.S. equity futures made a negative start to 2019 trading. Sub-forecast manufacturing PMI readings from Asian nations, led by China, fed the global-slowdown narrative in markets. China’s December manufacturing PMI (Caixin) fell to a 19-month low of 49.7, down from 50.2 in November.
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