US session recap: Greenback giving back

Amid thin markets, the spikes were exaggerated and the dollar was the common denominator once again. US stocks were down and squaring up was the theme, weighing on the greenback. 

In respect other fundamentals, overall, its holiday season and simply the ranges will be played out while data is traded over thin markets. With the US Consumer Confidence index, that improved at 92.6 vs a revised 91.0 last month.

$EUR/USD fell into consolidation supported by 1.2150 after a non-directional spell over thin holiday markets. 1.2180 caps rallies and contains the sideways drift.

$GBP/USD was bid moving to the upside from 1.5530 to 1.5575 and resting back on 1.5520 on dips. The upside was an extension of the rally from 1.55 the figure and 1.5480 previous lows. 

$USD/JPY has moved into consolidation mode post the drop from the mid 120 handle that made lows of 118.85 before clustering above he 119.20 support. Drifting to the upside, the pair was capped at 119.60 from there. We now move into the dead zone with Japan out for 31st Dec holiday in the Asia shift.

$AUD/USD was bid in Europe and then accelerated all the way from 0.8125 until supply at the 0.82 handle when the pair dropped back to lean on 0.8180 support.