December 3, 2022

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Dollar mildly softer as major currencies keep quieter so far on the day

1 min read

The dollar is a touch lower but the ranges for the day are still very narrow

EUR/USD is inching a little towards 1.2000 while GBP/USD is holding around 1.4170 levels after BOE Haldane’s remarks earlier in the day here.

The ranges among major currencies are still very narrow so the moves here aren’t really saying a lot. EUR/USD is keeping in a 24 pips range while USD/JPY sits in a 19 pips range.

Treasury yields are hovering just above 1.50% and that is one key spot to watch going into North American trading in case there is a technical break that could trigger some weakness in the dollar (and also yen strength).

Besides that, keep an eye on the loonie as oil is staying perky above $70 and also with the BOC policy decision coming up. USD/CAD has been trading sideways in recent weeks, consolidating as sellers pause for breath just above the 1.2000 handle.

USD/CAD D1 09-06

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