It's hard to read much into the moves we are seeing so far today as there is little for markets to work with, from both a headline and technical perspective. EUR/USD is up 0.3% now to 1.0230 from around 1.0200 earlier, but is still keeping within its recent range between 1.0100 and the 50.0 Fib retracement level at 1.0283 for the most part:
Looking at things, the dollar is sitting more mixed with light losses against the pound and franc as well. Meanwhile, it is up a smidge against the commodity currencies. To me, this is just one of those days. We are seeing some extension to the ranges but not any meaningful action as market players are going to wait on the US CPI data before firming up any moves.
