The pair stepped into lacklustre Asian session at $1.3779 after continued weakness during US session but it dealt a very narrow range of $1.3776 to $1.3788. With the euro trading in sideways fashion, traders turned their attention to the yuan fixing which was lower-than-expected and set off dollar sales in USD/CNH. Thereafter the euro grinded higher to set fresh session high while dollar-yen drifted lower but both pairs stuck in tight ranges. Flows were thin with Japan markets away on holiday and traders stayed at the sidelines ahead of Fed officials speeches tonight. The euro stands unchanged from open at $1.3779 last, reported bids at $1.3750/55 to $1.3730 with better buying interestwhile offers at $1.3810/12 (previous NY low & 21-dma) should provide some resistance before Europe steps in.
