The dollar is trading back to being little changed against the major currency bloc these days as there is little sense of firm convictions so far in European morning trade. The pound is the only notable currency higher, due to increased volatility, but keeps below 1.1200 for the moment. The rest of the major currencies are mostly holding around 0.1% change against the greenback now:
That exemplifies a lack of conviction even though we saw decent intervals today. In other words, there were just a few rounds of pushing and pulling with no firm games.
Looking elsewhere, equities are higher with S&P 500 futures up 29 points, or 0.8%, currently while bond yields are holding slightly lower on the day. 10-year Treasury yield is down 4 bps to 3.705% so that feeds some calm to broader market sentiment.
Month-end and quarter-end are the focus today and rebalancing flows could make for a somewhat messy end to the week ahead, adding to US PCE data as well as the UoM survey ahead of the weekend.