Dollar keeps more mixed so far in European trading

<p>That said, the ranges for the day for some dollar pairs are still leaving a lot to be desired. The most active pair so far today is definitely EUR/USD and with good reason as seen below:</p><ul><li><a href="https://www.forexlive.com/news/france-july-flash-services-pmi-474-vs-484-expected-20230724/" target="_blank" rel="follow">France July flash services PMI 47.4 vs 48.4 expected</a></li><li><a href="https://www.forexlive.com/news/germany-july-flash-manufacturing-pmi-388-vs-410-expected-20230724/" target="_blank" rel="follow">Germany July flash manufacturing PMI 38.8 vs 41.0 expected</a></li><li><a href="https://www.forexlive.com/news/euro-falls-further-as-german-pmi-disappoints-heavily-20230724/" target="_blank" rel="follow">Euro falls further as German PMI disappoints heavily</a></li></ul><p>I might be overstepping but I reckon that could very well be the recap for the session already.</p><p>Anyway, going back to the dollar, it is keeping slightly lower against the commodity currencies as risk tones are holding somewhat steadier so far today. European stocks have trimmed earlier losses with US futures now marginally higher on the day.</p><p>As for USD/JPY, it isn't much changed since Asia as it hangs around 141.30-40 levels mostly. The earlier retreat in Treasury yields in reaction to lower yields in Europe has pretty much faded. 10-year yields are only down 1 bps to 3.829% while 2-year yields are flat at 4.848% currently.</p><p>The pound is little changed against the dollar but has seen earlier gains of around 1.2880 pared. Cable is now at 1.2850, keeping little changed on the day as it just seems like there was just a bit of a stretching of the narrower ranges earlier.</p><p>AUD/USD is up 0.1% to 0.6735 but is holding within a 25 pips range so far today. Meanwhile, USD/CAD is down 0.2% to 1.3199 but the pair is holding in a 29 pips range only thus far.</p>

This article was written by Justin Low at www.forexlive.com.