The greenback is a little weaker to start the session
The likes of the yen and swissie are leading gains as markets are in a more cautious mood after a subdued session in overnight trading. Treasury yields are weaker with US equity futures lingering at the lows, down by 0.1%, so that's weighing a bit on sentiment as we begin the European morning.
Meanwhile, the euro is still somewhat resilient as the single currency posts minor gains against the greenback with EUR/USD trading near the upper end of a 21 pips range. The pair is somewhat caught between large expiries at 1.1200 and 1.1240-50 so there's that to consider if you're looking at price action today.
The pound is near flat levels against the dollar now after having traded to its weakest level in five months overnight on selling during the London fix. Brexit woes and political uncertainty - the latest being Hammond's threat to resign - are very much weighing on the quid still so what else is new really?
The weakest major currency is the aussie though as the RBA meeting minutes released earlier revealed that there is potential for the July meeting to be a "live" one, so rate cuts over the next two months are very much on the table.
Looking ahead, I would still expect some flip flop in risk sentiment but no major moves in markets before we get to the FOMC meeting tomorrow.
