 In the largely uneventful Asian and European sessions today, major currencies remained within familiar ranges, as the absence of key economic data releases kept markets subdued. Central bank commentary continued to dominate the narrative, particularly from ECB officials, who maintained their dovish stance. However, this comes as little surprise, with expectations largely baked in that ECB is likely to reduce rates again in December unless a sharp improvement in economic activity or inflation data emerges. On the currency front, Swiss Franc and Dollar are the stronger performers, followed by Euro. Yen, however, turned under pressure as the weakest currency today, with Aussie and Sterling also facing losses. Canadian Dollar and New Zealand Dollar are positioned in the middle. But overall, major pairs and crosses remain range-bound, with today's moves offering little insight into underlying trends..... |
