The dollar moved modestly higher early in the session on Monday, later giving back much of its gains, as Treasury yields fell fairly sharply. The DXY moved from London lows of 91.71, topping at 92.01 in morning trade, before pulling back to 91.82. Incoming data was light, with only the Dallas Fed index on tap. It fell slightly, but remains at lofty levels, and had no impact on the FX market. Wall Street was mixed, though the NASDAQ was the outperformer, rising to fresh record highs, and up as much as 0.7% intra day on lower Treasury yields.

The major currencies have been seeing narrow ranges for the most part so far in early week trading, with the pound being something of an exception in posting moderate gains. Cable rose above Friday’s high in making 1.3940, up from Friday’s closing levels near 1.3875. The UK currency also lifted above its Friday highs versus the euro.

The dollar majors have been seeing narrow ranges for the most part so far in early week trading, with the pound being something of an exception in posting moderate gains. Cable rose above Friday’s high in making 1.3940, up from Friday’s closing levels near 1.3875. The UK currency also lifted above its Friday highs versus the euro.