The mix of stop loss buying and corporate/option related selling has kept activity dampened down but the Dollar still managed to extend Friday's data driven run from 117.00. Highs just shy of 118.50 recorded as 118.20 and 118.30 stop action supports the early European market.
Exporters are reportedly in the market from 118.40 through 118.60 with the larger interest touted in the 118.50 area. On the options front we are hearing of interest in 118.50 strikes in the overnight and one-week period, which could be having some bearing on the 118.50 climb.
With a data free US session there is only official rhetoric that really upset the Monday order. ECB's Weber talks from 15:45 GMT, and two Fed speakers will hit the wires at 13:45 and late in the day at 23:30 GMT.
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