Not a whole lot is going on in the FX space so far today
The dollar was slightly ahead earlier on but gains have been trimmed somewhat so far in European morning trade. USD/JPY is off earlier highs of 111.25 to 111.10 now with Treasury yields also erasing a slight advance to keep flatter on the session.
Meanwhile, EUR/USD is still holding around 1.1600 and just below its 100-hour moving average as sellers look to try and maintain near-term control for now:
Elsewhere, GBP/USD has pared earlier losses from around 1.3590 to push up to 1.3620 on the day with buyers finding support from its 200-hour moving average:
That keeps the near-term bias more bullish as buyers are not surrendering the momentum from yesterday - at least for the time being. AUD/USD is seeing a similar case play out:
The pair nudged to a low of 0.7250 earlier but has climbed back up to trim losses to just 0.1% at around 0.7275-80 at the moment. Holding a daily break above 0.7300 remains the next challenge for buyers but keep above the 200-hour moving average (blue line) and they stay in firmer control as we look towards the coming sessions.
