The greenback is on the back foot to start the day
Ranges are still narrow but most major currencies are at the highs for the day against the dollar. EUR/USD is back above the figure level and up to 1.2008. USD/JPY is down to lows of 109.66 on the day. Meanwhile, AUD/USD is banging on the 0.7500 handle again while NZD/USD has also climbed back above 0.7000 and is currently trading at 0.7018.
The yuan is the weakest among the majors after China returns from a four-day break, and the PBOC weakened the yuan at the fix to its weakest reference rate setting since 25 January.
