Activity is contained
The markets are contained as the they also await the next shoe to drop on an additional $200B of US tariffs on China goods. Teh CHF is the strongest. The USD is the weakest but note that the pairs are relatively scrunched together.
The trading ranges are well below their 22 day average ranges (red line in the lower chart below). The USDJPY, USDCAD and NZDUSD are near unchanged and with ranges, less than 33 pips. That is not a lot. The GBPUSD has a 60 pip range and is the biggest mover today.
