Major currencies mostly remained in Friday's ranges which were a result of a much better than expected U.S. jobs and wages report. The least action was in the euro while the yen and the antipodean dollars performed better.

Today's markets were reminiscent of subdued summer trading but, as we have seen multiple times in recent months, they never lasted more than a couple of days. I think we won't need to wait until Yellen's speech at the Jackson Hole Symposium to get the next big move.

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