The Japanese yen leads the way as the US dollar holds firm
In case you've forgotten what the start of European trading looked like yesterday, here's a reminder snapshot for you. Looks familiar, doesn't it?
Anyway, trading remains very narrow on the day - so don't be too surprised if things start to take a different direction. The big mover on the day is again the Japanese yen as it continues to extend gains from yesterday's BOJ announcement that they will "taper" bond purchases.
Meanwhile, the dollar remains steady against other major currencies as trading ranges today have been subdued to say the least. The laggards so far are the AUD and GBP. I've mentioned here that the AUD/USD may remain range-bound on the day, with price action limited by the large option expiry pointed out here.
While the sterling loses some ground as Brexit talks start to come back into focus. It's just another reminder of how much still needs to be discussed and settled before the March 2019 deadline.
