The Australian dollar dipped briefly on Monday after the Chinese central bank's weekend interest rate hike, while the euro rose against the dollar after breaking above its 200-day moving average. Trading ranks were extremely thin. London was closed on Monday and Tuesday for holidays and a blizzard in New York limited activity, ensuring only minor price fluctuations.
The Australian currency was the biggest mover out of the gate, falling as low as $0.9987 after China's Christmas Day interest rate hike on Saturday, though it had clawed back to $1.0020 early in New York, down 0.1 percent. The currency hit a six-week high of $1.0067 last week. The euro managed to rise after falling below its 200-day moving average, a drop that is usually indicative of more losses. The dollar was flat at 82.88 yen, near the lower end of a recent 82.50-to-84.50 yen range.