CAD leads (but not by much), NZD lagging behind
Most major pairs are unchanged and are trading in very tight ranges so far today. The USD is holding its ground in the wake of US tax reform passing through the House vote yesterday. Not much action all around in most pairs since the close.
The JPY continues to lag behind as bonds continue to slump and US yields look set for a breakout to the topside.
Meanwhile, the NZD parred gains after an upbeat GDP report earlier today here. It's the worst performing major currency today after running into selling pressure against the USD and AUD again. NZD/USD tested the 19 Dec highs near 0.7020 before falling back off again.
Here are the ranges for today's major pairs so far:
- EUR/USD - 19 pips
- USD/JPY - 44 pips
- GBP/USD - 28 pips
- USD/CHF - 17 pips
- USD/CAD - 16 pips
- AUD/USD - 20 pips
- NZD/USD - 33 pips
With the exception of USD/JPY and NZD/USD, other pairs have been relatively subdued to be honest.
