US interest rates may be near zero for overnight funding but there is a bump in the yield curve as banks stockpile cash for the turn of the calendar year. Spot/two-week depos are 90 bp versus overnight funds around 10 bp. Short-term funding pressures may give the dollar a very slight bid tone through the holiday period.
Markets are very steady with EUR/USD treading water at 1.3995/1.4000 and USD/JPY at 90.50.
