Cable pares losses as dollar, yen slips a little

GBP/USD back up to 1.3030 levels

Some softening in the dollar and the yen is seen across the board now with the pound and euro quickly erasing earlier losses. GBP/USD has jumped back up from 1.3000 to 1.3030 levels while EUR/USD is back up from 1.1570 to 1.1600. Meanwhile, AUD/USD is also back up near session highs from 0.7095 to 0.7115 now.

There isn't any specific headline to have caused the shift in mood but of note E-minis are trading near the day's highs once again and that is likely helping with risk sentiment a little:

Nonetheless, currencies are still kept in their respective ranges and there's no imminent breakouts just yet. GBP/USD still sits in a 45 pips range while EUR/USD is in a 37 pips range on the day.