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Most major currencies are now trading within 0.1% change against the dollar on the day and that itself hints at more of a push and pull feel for the time being. The dollar was stronger coming off the back of yesterday’s gains but gave up some ground early on as mentioned here.
But things are now little changed with EUR/USD sticking around 1.0560 levels and GBP/USD back down to 1.2320 levels, down 0.1% on the day. Commodity currencies have also eased lower against the greenback with USD/CAD back up to just above 1.3000 and AUD/USD down 0.1% to 0.6945:
The aussie and the loonie are still two key currencies to watch as the technicals start to crack with risk sentiment in focus.
So far in European morning trade, equities are holding a modest bounce with European indices up between 0.6% to 1.3% while S&P 500 futures are up 0.9% at the moment. It is still early in the day though.