Little action so far in the currency market
All the ranges for the major currencies are relatively narrow on the day, with the market looking a little cautious as the trade rhetoric comes back into the picture ahead of the G7 summit in Canada later today and tomorrow.
Equities in Asia are mostly lower with Chinese stocks once again leading losses and the Hang Seng also down by 1.3% at the moment.
The yen is the leader among the major bloc in the currency space, but movement on the day has been very subdued to be honest. The dollar is mixed against the major bloc, while the aussie lags behind following further selling from yesterday - with decent-sized expiries seen at the 0.7600 level against the dollar.
If anything, it looks like the market is treading cautiously as the trade rhetoric is set to dominate the headlines later in the US session and over the weekend.
Here are the ranges so far today:
- EUR/USD - 18 pips
- USD/JPY - 24 pips
- GBP/USD - 18 pips
- USD/CHF - 18 pips
- USD/CAD - 22 pips
- AUD/USD - 25 pips
- NZD/USD - 15 pips
