The euro regained more ground on the dollar in Asia on Monday, having rebounded from a five-month trough, but trading was anything but energetic thanks to a holiday in Japan and amid concerns that geopolitical tensions could flare up at any time.
The common currency drifted up 0.2 percent to $1.3546, extending Friday’s bounce from a five-month low of $1.3491. Solid support is seen at $1.3460/80, an area that had provided a floor on several occasions for the common currency in the past 10 months or so.
“The Japanese holiday has quietened things in Asia,” said Mitul Kotecha, head of FX strategy at Barclays in Singapore. “There is not a great deal of first-tier data either and investors have one eye on geopolitical events, all of that is a recipe for generally lackluster trading.”
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