Dollar holds steady amid calmer tone in markets
The aussie is the leading laggard as we approach European trading after RBA governor Philip Lowe laid the groundwork for a rate cut at the central bank's 4 June meeting in two weeks' time. The currency is now approaching last week's lows against the dollar and the move lower also inadvertently dragged the kiwi down as well.
Meanwhile, other major currencies are holding more steady as markets in general are in a bit of a calmer mood after the US says it is temporarily easing up on Huawei sanctions for the time being. Chinese stocks are much more buoyant today and US equity futures are up by 0.4% currently, helping to ease the mood ahead of European morning trade.
The dollar is holding up well but ranges are rather narrow still with EUR/USD and GBP/USD serving up a mere 18 pips each in Asia Pacific trading. There isn't much on the economic calendar today to really shake things up, so expect trading sentiment to largely be dictated by the ebb and flow once again.
