The probability of raising interest rates by the FED is less than 1%.

On Monday, U.S. Treasury yields gave up intraday gains following the 10-year U.S. Treasury bond auction, with the 10-year U.S. Treasury yield closing at level 4.237%; Yields on two-year U.S. Treasury notes, which are more sensitive to the Fed's policy rate, closed at 4.71%.

The US dollar index steadied above the 104 mark and last closed up 0.087% at 104.1. As hopes of the Bank of Japan ending negative interest rates in December evaporated, the yen fell more than 1% during the session.

As investors awaited CPI data and guidance from the Federal Reserve's interest rate decision, spot gold fell below the 1980 mark and ultimately closed down 1.27% at 1,981, $65/ounce, new low since Nov. 21; Spot silver closed down 1.09% at $22.82 an ounce