Dollar pares gains but ranges still narrow on the day
Dollar index turns flat as we head closer to European mid-day
The action in the currencies market remains subdued. The dollar gives up some gains against across the board - notably against the euro, aussie, and kiwi - but the ranges so far today are still relatively narrow, though with a slight extension from Asian trading.
EUR/USD is trading near session highs at 1.1760 now, same goes for NZD/USD as well at 0.7026. Meanwhile, cable has also recovered to trade at 1.3344 now after hovering around 1.3320 for the most part following the release of the inflation report - with most of the action seen in the build up to the data release.
Here's an update of the ranges so far today:
- EUR/USD - 32 pips
- USD/JPY - 38 pips
- GBP/USD - 68 pips
- USD/CHF - 28 pips
- USD/CAD - 36 pips
- AUD/USD - 30 pips
- NZD/USD - 33 pips