That comes after a choppy and mixed day yesterday but overall, we are still seeing some key levels in play. The dollar is mostly little changed at the moment with only the pound slightly softer and the yen higher on the day.
EUR/USD is flat at 1.0885 with buyers still hoping to keep the upside momentum in a push above 1.0900 towards 1.1000. But with the Fed fast approaching, we might just see some room for a pause in the move for now. Meanwhile, GBP/USD is keeping just below 1.2400 as buyers are consolidating after a failed push above the December highs of 1.2443-46 at the start of the week.
The commodity currencies are flattish today as well but AUD/USD is holding above 0.7100 as buyers knock on the door of the August highs at 0.7125-36 still. NZD/USD is keeping just below 0.6500 as the figure level continues to provide a key point of resistance for any upside move on the daily chart.
USD/JPY is the only decent mover today but even so, the pair is just down 0.3% to 129.80 with the downside trend still very much intact:
The risk mood is looking more cautious so far today, so let's see how that progresses once Wall Street steps in and if US PCE data has the potential to provide traders with a trigger for more meaningful moves later in the day.
