The U.S. dollar was seen closing with some gains on Friday, in the hope that Washington would pass the spending bill. Although it was cleared by the U.S. House, the bill stalled in the U.S. Senate. Late night talks over the weekend did not yield many results and lawmakers are expected to reach some agreement today.
The Euro was seen attempting to recover the losses on Friday but after rising to an intraday high of 1.2294, the currency pair gave up the gains and settled lower to close at 1.2223.
Looking ahead, the economic calendar is light today. The Eurogroup meetings are scheduled throughout the day while in the NY trading session, Canada will be releasing its wholesale sales data. Economists forecast an increase of 1.0% for the month.
