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The dollar is mostly little changed with the ranges for some dollar pairs still leaving a lot to be desired. EUR/USD is flattish around 1.0737, holding within a 32 pips range so far on the day. GBP/USD and USD/CHF are also more or less flat and also observing 30+ pips range as we get European trading started.

Meanwhile, the aussie has seen its earlier gains pared with AUD/USD now at 0.6895 from around 0.6925 earlier with USD/JPY being perhaps the only notable mover as we get things going now – up 0.3% to near 132.70 currently:

The pair had previously held attempts to move above its 100-hour moving average (red line) in the past few sessions but we are seeing buyers test the waters a little. There is some minor resistance from the Monday high at 132.65 with large option expiries at 132.50 also in play at the moment.

This comes despite a drop in bond yields today, with 10-year Treasury yields seen down 3.8 bps to 3.585% currently. Elsewhere, equities are not hinting at much with European indices marginally higher while US futures are little changed for the most part.

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