Major currencies slow things down after the action yesterday

Dollar pairs are lightly changed with narrow ranges returning in trading today. The only exception on the day is USD/JPY. But even then, the pair is also near flat at around 156.20 levels now amid some light pushing and pulling. The low earlier came in Asia, with the pair touching 155.36 before returning above the 156.00 mark now.

The inaction today comes as equities are also finding a calmer mood. US futures are briefly pared its early advance in the opening hour of European morning trade but S&P 500 futures are holding up 0.1% for now. That is keeping broader markets on edge, with eyes on whether the selloff in tech will carry over again in US trading later.

But for now, it looks like it might be a bit of a wait until we get to the ECB and then the US weekly jobless claims data.

This article was written by Justin Low at www.forexlive.com.