The euro opened in New York at 1.3384 after a 19 point range (1.3380-99) in Asia and Europe. Soft euro zone trade data (June 13.8 billion vs. expected 15.0 billion) did little to disturb the market's August slumber. Bank of England Governor Mark Carney's weekend remarks, that a rise in U.K. real wages was not a pre-condition for a rate hike, did provoke some euro/stg selling which had minor impact on the euro after the London open.
Early U.S. trading saw the euro float up to 1.3387 and then just as casually drift lower to 1.3379, just breaking the European low.
At 9:50 am the euro moved sharply lower from 1.3379 reaching 1.3365 by the scheduled NAHB release at 10:00 am. There were several unconfirmed reports that the National Association of Home Builders Housing Market Index had been issued early. The August index (55 vs. 53) was better than expected and added to the pressure on the euro which touched the day's low 1.3353 about 30 minutes before the London close.
U.S. Treasury yields recovered from Friday's shellacking, with the 10-year gaining 5 basis points to 2.39 percent. Headlines from Ukraine were less incendiary today after the weekend reports of conflict around a Russian aid convoy. The truck delivery seemingly approved by the Ukrainian authorities.
After the low a shallow rally to 1.3366 petered out and from there until the close at 1.3364 the euro did no more than move in what was essentially a wide price 1.3360-64.