The euro is keeping within a 22 pips range against the dollar so far today, so that does say a bit on how there is a lack of action among major currencies as we get into European morning trade. Most major currencies are trading with a less than 0.1% change against the dollar, with only the aussie and kiwi holding just a touch higher.
I outlined the AUD/USD predicament earlier today here and for the case of NZD/USD, the pair remains pinned just below key resistance at 0.6500 for the time being.
Meanwhile, USD/JPY continues to see some strong fluctuations with price now sitting back below 130.00 but the pair is still largely caught in a predominantly downtrend as highlighted here yesterday.
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There are some positive undertones in the market right now with European stocks opening higher and US futures looking more upbeat, so that might lend itself to more risk on plays later in the day. Besides that, just be mindful of key US data still to come.