* The dollar traded mixed on Monday, higher against the yen and commodity currencies but lower versus the euro. The greenback was supported by increasing risk aversion as a trade dispute between China and the US increased the threat of protectionism. The S&P 500 was up 6.61 points to 1,049.34. The euro rose despite the declines in eurozone industrial production and employment. Sterling was pressured by a report predicting the UK housing slump will resume next year. The Australian dollar fell for a second day and the Canadian dollar declined.
* The USD/JPY rose for the first time in five days, supported by intervention threats. Japan’s Finance Minister Yasutake Tango said officials are paying close attention to the yen. In addition, Goldman Sachs said it does not see a prolonged USD/JPY weakness. The trend is certainly negative, but the pair is oversold measured by the RSI and also near the important 90-area support. Therefore, we expect the USD/JPY to move sideways or higher this week.
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