Flows are everything when it comes to getting things started in the new year and today is no different. Equities are pushing higher but at the same time, the dollar is gaining traction despite the more positive risk momentum so far today. USD/JPY has trimmed its earlier drop from 129.80 to 130.30 at the moment while EUR/USD is down 0.6% to just under 1.0600, with large option expiries at 1.0580 in play now. (full story)