Subdued trading to say the least, and in fact nothing more to say from there

Dollar is slightly lower on the day as we await a potential tax vote later today or tomorrow. But in general, ranges have been very tight. The kiwi and euro may be leading the way, but it's not by much.

Here are the ranges for the major pairs so far today:-

  • EUR/USD - 19 pips
  • USD/JPY - 13 pips
  • GBP/USD - 32 pips
  • USD/CHF - 9 pips
  • USD/CAD - 17 pips
  • AUD/USD - 15 pips
  • NZD/USD - 25 pips

Cable had a good run early in Asia to a high of 1.3394 but encountered some resistance at the 100 and 200-hour MA that's set it back for now. Other than that, a quiet day so far.