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Forex pairs in this Article » EUR/USD, GBP/USD, USD/JPY (San Francisco) - The emerging market currencies remain under pressure as Argentinean peso, Turkish Lira and South African Rand remains at historic lows. In addition, china credit situation was on focus as the PBoC suspended domestic interbank transfers.

In majors, however, the situation was relatively calmer as principal pairs remained in range around previous levels. The EUR/USD was testing the 1.3700 area but it closed just below: at 1.3670. The GBP/USD bounced after Friday's decline and recovered half of previous losses to close at 1.6580.

The USD/JPY fell to 101.85, lowest since December 6, however the pair managed to recover ground and close on the positive at 102.60.

Main headlines in the American session:

Markit services PMI hits highest since September

US: New Home Sales down to 0.414M in December

Buba's Weidmann says central bankers should not tell politicians what to do

Kocherlakota hints he won’t dissent if the Fed tapers

Wall Street extends decline amid China concerns
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