Dollar has regained some prominence in today's trading, albeit just as a part of this week's oscillating trends. A majority of major currency pairs and crosses are confined within yesterday's trading ranges. The day's lull is evident, with a notable absence of significant economic announcements from Europe and US. Additionally, leading central bankers have remained silent. In the broader currency landscape, Euro has also made modest gains against both Sterling and Swiss Franc but remains within familiar ranges. As it stands, Swiss Franc and Sterling are the worst performers for the day, while commodity currencies are mixed. As market participants await tomorrow's US CPI data – assuming they aren't enjoying a summer break – several technical level come to the fore. These include 1.1046 minor resistance for EUR/USD, 1.2796 for GBP/USD, 0.8663 minor support in USD/CHF, and 141.50 minor support for USD/JPY. Simultaneous break of these levels could be a strong indication of selling momentum in the greenback. In Europe, at the time of writing, FTSE is up 0.65%. DAX is up 0.77%. CAC is up 0.92%. Germany 10-year yield is up 0.046 at 2.515. Earlier in Asia, Nikkei dropped -0.53%. Hong Kong HSI rose 0.32%. China Shanghai SSE dropped -0.49%. Singapore Strait Times rose 0.12%. Japan 10-year JGB yield dropped sharply by -0.0465 to 0.565. |