The US dollar was steady against other major currencies in morning trading here Wednesday as players remained on the sidelines before the Independence Day holiday in the US.
All 4 majors trend sideways since this morning. Thin liquidity is expected to persist until Thursday's announcements about interest rates in the UK and the euro zone. ECB is expected to keep rates on hold, while BOE is expected to raise rates by 25 basis points.
European bonds are trade lower in today’s session following an unwinding in safe haven flows as market participants jump back into equity. This is good news for carry trades.
EUR/CHF pair broke the upside trendline, but indicators are showing overbought. Might have to wait for a dip to get in.
GBP/CHF pair trend sideway with overbought conditions.
Happy 4th of July!
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