The dollar is trading more mixed and mildly lower but changes are rather minimal and light to start European trading.
Equities are holding more positive and commodity currencies have had a decent run to start the week but the gains for the loonie, aussie, and kiwi are nothing to shout about.
Even now we're seeing a less than 0.2% change across the board for dollar pairs and that hints at a more lackadaisical mood.
USD/JPY is slightly lower by about 20 pips to 115.35 but isn't really going anywhere on the day:
Topside was rejected by resistance @ 115.69 and buyers are still holding a more bullish near-term bias so that pretty much defines the risk levels at play for both sides of the coin. The slight drop today comes as Treasury yields are a little lower on the session. 10-year Treasury yields are down 2.2 bps to 1.934%.
Elsewhere, EUR/USD is still trying to make up its mind after the retreat from the Friday high:
Price has now fallen back below its 100-hour moving average (red line) and that is making things a bit interesting. The break below that suggests that the near-term bias is now more neutral, though the 100-day moving average @ 1.1419 is a key level to be mindful of ahead of the close as well.
ECB policymakers are trying to not set out too high expectations as per market pricing and that could be a headwind for the euro to sustain the post-ECB momentum in the weeks ahead.
