Markets Bearish but No Meaningful Direction in FX

For the start of the week, markets have taken a “wait and see” approach. After last week's scheduled weak economic data and unscheduled events, market participants seem to be wary of moving the market in any direction. Asian equity markets drifted lower with the Nikkei falling 1.2% and closing at its lowest level in 26 years. The USD still is firm, but lacking the bounce it has benefited from...