The euro hit a session low at 1.2891 (an 11-day low) at the start of US trading and then recovered to 1.2836, which was one pip above the early high. Overall, a 40 pip range and no action when either extreme was tested.

USD/JPY bled to the lowest since Sept 13. Some stops were tripped below 78.00 after the Azumi reports. The thinking being that the changes will render the MoF less likely to intervene for the moment. Bids 77.70/50.

USD/CAD ticked one pip above Friday’s high of 0.9817 but the buyers quickly dried up and the pair fell back to 0.9784.

Oil as low as $91.07 but bounced almost a dollar.

Overall, not much news to chew on and not much action.