On the last trading day before Christmas week, when everyone goes into holiday mode, the dollar held onto its recent gains against all of the major currencies except for the comm dollars (AUD, NZD and CAD). Although many of the major currency pairs ended the day virtually unchanged, on an intraday basis, there was quite a bit of volatility in both currencies and equities. Considering that today is Quadruple Witching, when stock index futures, stock index options, stock options and single stock futures all expire, the volatility is not particularly unusual. Instead, the lack of economic data in U.S. and the flat price action in the EUR/USD has many traders wondering how much further if the dollar will rise.
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