Forex news for November 10, 2014:

It was a day for the grinders today after two months of mad volatility. The dollar was near the lows of the day near the start of US trading and slowly made its way higher in move that lacked any kind of drama.

USD/JPY climbed to 114.91 from 114.10 with most of the moves coming in a quickish move around the NY options cut. The biggest pullback was 15 pips so it was the kind of move you were either in, or not.

EUR/USD was strong to start the week, despite the Spanish referendum and touched above 1.25 but US traders had other ideas and sold it down to 1.2420. There been a series of marginal lows in the past few hours but the market won’t crack — yet.

GBP/USD sagged to 1.5843 and finishes at the lows of the day after starting near 1.5900.

There were very few headlines to trade on so the shapes of the moves make sense. On Friday everyone took profits on dollar longs but when you look at the market on a Monday morning, it’s still the best looking cow at the slaughterhouse.

There was a bit of drama in USD/CAD as it climbed up to 1.1380 after flirting and breaking 1.1300 briefly in Europe. Commodities were soft and that was the driver — similar story in AUD and NZD.

Tomorrow is Veteran’s Day in the US and Remembrance Day in Canada. Stocks are fully open in the US but the bond and futures markets are closed so it could be quiet.