A slow start to the trading day
Ranges have been narrow and there isn't much on the wires to give any directions. We're not hearing anything from China today (yet) but that's at least helping equities. Though the currency market isn't really following.
EUR/USD is stuck in a 16 pips range, same goes for GBP/USD. Meanwhile, USD/JPY is the one with the largest range in terms of dollar pairs and that's only just 36 pips. The pair is trading near the highs as the Nikkei is up by 2.27% on the day.
Commodity currencies are a little lagging behind, but apart from that we haven't seen all too much happen.
Which reminds me that we may see more of this kind of trading when the World Cup kicks off in June.
