The dollar is mostly lower across the board so far today
EUR/USD is still flirting with a firm break above 1.2200 with GBP/USD looking to do the same at 1.3500, following the euro area PMI beats for December earlier.
That helped to keep risk sentiment more upbeat and the market is maintaining that mood for the most part in the last hour or so. European indices are gaining by about 1% in general, with the DAX leading the charge with gains of 1.7%.
S&P 500 futures are seen up by 0.2% while Nasdaq futures are up 0.4%.
Elsewhere, 10-year Treasury yields are up 1.4 bps to 0.923% as well. Put together, everything is pinning the dollar weaker as we navigate through the session.
Back to GBP/USD (⬆), the pair is staying underpinned on the back of Brexit hopes as well. From a technical perspective, keeping a daily break above the 1 September high @ 1.3482 would be a win for buyers going into the close today.
That will help set the stage for a potential retest of the 4 December high @ 1.3539.
The caveat though, will be the Fed meeting later today - which could have the potential to cause a pullback ahead of the close or perhaps allow for a break higher.
As for Brexit, it doesn't look like we will get anything solid today but talks aren't likely to break down either considering how negotiators are getting more and more comfortable in ignoring all the "deadlines" set out in the past few weeks.
