While most pairs were moving in relatively tight ranges, the EUR/USD and AUD/USD were noticeably higher with gold not trailing too far behind.Most moves were limited with the probable culprit being a bit of position squaring ahead of the New Year.
There was some noted concern about the unrest that currently unfolding in Iran, but the currency markets were yet to be affected.
However, the consensus is that if things escalate and martial law is declared we could see some quick moves in the dollar, gold and oil. Those moves could be accentuated due to the holiday thinned liquidity.
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