The midday selloff in commodities and the moderate rebound in the dollar appears to have run its course, but we look to be establishing an identifiable trading range. Looks like the 1.4555/60 area is becoming an intraday base while levels above 1.4615 might be rich in the near-term. Trading that range for the balance of the session (barring a surprise like a training exercise in Midtown Manhattan) looks like the way to go.
USD/JPY is trying to recover after a slide to the 90.22 level. 90.48 is now resistance near-term though a close above that level might spook shorts slightly.
