Here’s the snapshot as we look to get into European trading:
As you can see, dollar pairs are mostly holding within 0.1% change to one another with the exception being USD/JPY. The pair is up 0.3% to 139.35 as it continues the push and pull alongside the bond market. That said, keep in mind that there are large expiries today that should keep the pair anchored between 139.00 and 140.00 before US trading.
The dollar’s drop yesterday is being kept but with not much else on the agenda today, there might not be much appetite to go running. US futures are marginally lower but if anything else, I reckon major currencies would respond more if the risk mood does pick up later in the day.
Otherwise, we may be in for more of a subdued session and end to the week.