FX keeping in narrow ranges for the most part again
The summer doldrums continue in Europe in what looks to be more of a repeat of yesterday’s trading action, with major currencies trading narrowly and little changed.
The dollar is keeping steadier, though down 0.1% against the yen as Treasury yields retreat a tad bit to 1.337%. The high yesterday hit 1.379%, so we are still stuck in a bit of a bind following the US CPI report on Wednesday.
EUR/USD is also still caught in between 1.1700 and 1.1750, staying in search of a break on either side in order to formalise any further conviction towards the end of the week.