AUD leads the way ahead of European trading
But little else going on among the other major currencies as ranges stay subdued for the most part. The euro is trading at session lows now with EUR/USD touching a low of 1.1567 but the range for the day is still under 30 pips as we await European traders to enter the fray.
USD/JPY continues to stay above the 110.00 handle as the Nikkei quietly creeps higher on the day but Treasuries are flat so far and that's not providing any additional support for the relative calm we're seeing so far after yesterday morning's "panic".
There's been no new developments in the trade rhetoric, and the lull is helping investors digest the news as well as see some relative calm for the time being. But cautious tones are still prevailing for the most part.
Although the Nikkei is trading higher, Chinese mainland stocks are still feeling the heat with the Shanghai Composite down 0.54% now. But if the lull continues until US trading later, expect greed to come in and yesterday's events will be soon forgotten.
Here are the ranges for the major currencies against the dollar so far today:
- EUR/USD - 29 pips
- USD/JPY - 34 pips
- GBP/USD - 27 pips
- USD/CHF - 21 pips
- USD/CAD - 24 pips
- AUD/USD - 36 pips
- NZD/USD - 26 pips
