FX caught in a bind as the waiting game continues

<p>The dollar is sitting little changed overall with the ranges for the day leaving a lot to be desired. Currently, dollar pairs are all holding within 20 pips of one another and that says a lot amid the tight ranges that we are seeing so far on the day:</p><p>It's all about the events on the economic calendar this week and they won't really come until we hit Wednesday. As such, tomorrow might be just as much of a dud like what we are experiencing so far today.</p><p>The loonie is sitting slightly higher as oil prices continue to move to the upside. WTI crude is up another 0.8% today to $91.50 and that isn't going to really help with the inflation picture in the weeks/months ahead.</p><p>At the same time, we're nearing a potential breakout in 10-year Treasury yields which could go hand-in-hand with the move higher in oil and worsening inflation outlook for central banks.</p><p>But looking at the changes in FX today, there's no use reading into it. Traders have no reasons to commit too early on such a big week in markets and so, the waiting game continues.</p>

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