Major currencies are a non-starter so far in the European morning

WCRS 31-07

All eyes are on the Fed decision later today and major currencies are delivering the verdict that nothing will change until the Fed moves.

The aussie remains the lead gainer following gains in Asia Pacific trading after slightly better-than-expected Q2 CPI data. Meanwhile, the pound is steady after two days of declines but nothing too notable really.

The rest of the major bloc remains more subdued with less than 0.1% change against the dollar in trading so far as narrow ranges continue to prevail on the session. EUR/USD sits in a 20 pips range while USD/JPY holds within a 15 pips range.

Let's hope that the Fed will deliver some much needed volatility before we end the week, especially with US non-farm payrolls still to come on Friday as well.