The greenback pushes a little higher to start the European morning
It's still early days but the dollar is inching a little higher against the likes of the pound and euro notably, pushing GBP/USD and EUR/USD to session lows currently. The trading ranges remain narrow still but it could be a taste of what's to come as we wrap up the week.
Cable is now down to a low of 1.2683 after having hit a high of 1.2725 in Asian trading, retesting yesterday's high. Buyers failed the break above and will now have to be wary in defending the near-term bullish bias in the pair.
I wouldn't read too much into the moves at the moment but I wouldn't want to be one to ignore it either. As I argued earlier, the current market environment extends beyond the narrative of "the Fed cutting rates":
It could be that traders are wary of risks into the weekend or perhaps the market is having second thoughts about a dovish Fed (after so much has already been priced in and other central banks are also growing more dovish) or it could be just a change in focus back to the trade war (Trump-Xi meeting next week).