Dollar a touch softer awaiting the US CPI report later

Read full post at forexlive.com

There
is
a
slight
extension
to
the
narrow
ranges
earlier
but
it
is
looking
rather
one-sided.
The
greenback
is
the
one
dragged
lower
now
in
European
morning
trade,
with
EUR/USD
pushing
to
a
one-month
high
of
1.0853.
The
pair
is
now
up
0.2%
on
the
day,
with
other
major
currencies
also
posting
roughly
similar
gains
against
the
dollar.

USD/JPY
is
down
0.1%
to
161.50
while
GBP/USD
is
up
0.2%
to
1.2878,
helped
by
a
better
UK
monthly
GDP
data

here.
Besides
that,
USD/CHF
is
also
down
0.2%
to
0.8980
and
AUD/USD
up
0.2%
to
0.6760
on
the
day.

The
flows
here
are
quite
isolated
though,
with
equities
and
bonds
not
really
hinting
at
much.
S&P
500
futures
remain
tepid,
down
0.1%
on
the
day.
Meanwhile,
10-year
Treasury
yields
are
flat
at
4.280%
currently.

It
looks
to
be
some
positioning
flows
as
we
start
to
draw
closer
to
the
main
event
later
today.
It’s
all
about
US
data
with
the
CPI
report
in
focus
alongside
the
weekly
jobless
claims.