It is shaping up to be another one of those days
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Besides some of the typical yen volatility as of late, major currencies are in a pretty dull mood today. The ranges for dollar pairs speak for themselves as seen below. And with US stocks also feeling rather muted over the last few sessions, it isn’t helping to provide much direction this week. S&P 500 futures are little changed once more, down 0.1% currently.
The dollar was fairly steady in trading yesterday but didn’t really accomplish much. Take AUD/USD for example. The pair threatened a break below its 100-day moving average of 0.6577 but ultimately closed at 0.6579, and is still keeping thereabouts now.
Elsewhere, 10-year Treasury yields are up slightly back to around 4.50% at least. But broader markets look to be content to wait for more clues before reacting to that.
Today, we’ll have the BOE monetary policy decision to go through. But in all likelihood, it is a bit of a waiting game until we get to the US PPI, CPI, and retail sales numbers next week.