GBP leads, AUD lags behind
Don't let the moves deceive you though, there hasn't been much action on the day. Apart from notable weakness in commodity currencies, action has been few and far in between. The pound is holding steady for the moment following Friday's meltdown - where cable fell by the most in 15 months - as GBP/USD holds near key support levels still.
Meanwhile, the aussie and kiwi are the two main casualties of the breakdown in trade talks between US and China. The news hit over the weekend and both currencies have been weighed down because of that alongside regional equities. The Hang Seng is trading at the lows now down 1.5% on the day.
Apart from that the euro and swissie has moved a little lower at the start of the session but nothing notable so far. Ranges in most major currencies are fairly narrow as the session begins so let's see if we'll get anything more in the midst of thin liquidity and a lack of items on the calendar today.
Here's the ranges for dollar pairs so far:
- EUR/USD - 25 pips
- USD/JPY - 34 pips
- GBP/USD - 34 pips
- USD/CHF - 25 pips
- USD/CAD - 33 pips
- AUD/USD - 34 pips
- NZD/USD - 35 pips
