S&P 500 Refuses to Break Directional Impasse, USDJPY and USDCNH Depress Dollar Impact

The US markets were back online after another holiday weekend, but their return didn’t translate into clarifty for the likes of the S&P 500 as to whether last week’s charge was a break or temporary swell. With a light US docket ahead, major event risk elsewhere is shaking up FX majors.