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EUR/USD still holding 1.0900-1.0950 for now

Yesterday the price action across the major FX pairs was not easy to navigate and that was all due to the swings in the USD/JPY. As noted here at the time, this threw up quite a lot of volatility in the JPY crosses and that made for navigating the EUR/USD in particular, hard work. The price action following the slightly higher than forecast US CPI report was therefore rather confused, because on the one hand it lent itself to a higher dollar versus the Yen, but the overhang of the BOJ (and Fed for that matter) monetary policy decision gave rise to volatility in that pair. So, the EUR/USD could just not break out of its current range, despite testing the 1.09 handle again and also refusing to make a move above 1.0950. The EUR/USD later closed pretty much in the middle of that range last night, at 1.0927. The range seen yesterday has so far today held today. In fact it has been even tighter than that. The EUR/USD is just now trading at 1.0929

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