But NZD still leads the way so far today

Though the dollar is slowly inching higher and has already pared losses against the aussie and is looking to do the same against the kiwi as well. Ranges remain narrow on the day though, so there isn't too much to decipher here.

The only notable mover has been movement against the yen, with USD/JPY now trading at 111.18 having touched a high of 111.20 moments ago. The pair looks to hold a break above the 3 July high @ 111.14 and buyers are looking towards the 21 May high @ 111.40 next.

Apart from that, the general positive risk sentiment in the market is helping to lift the mood for commodity currencies a little and the fact that the Nikkei is now up by 1.1% is also contributing to pin down the Japanese yen in trading so far.

Here are the ranges for dollar pairs as we await European markets to open:

  • EUR/USD - 25 pips
  • USD/JPY - 40 pips
  • GBP/USD - 33 pips
  • USD/CHF - 17 pips
  • USD/CAD - 24 pips
  • AUD/USD - 24 pips
  • NZD/USD - 25 pips