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Dollar mildly softer to start the session

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Light moves as major currencies stretch the narrow ranges

The dollar is mildly softer across the board as we see some extension to the tight ranges for the day, with EUR/USD moving up to 1.1885 and GBP/USD up to 1.3930.

The latter is pushing back above its 100-day moving average as buyers keep a defense of its 100-hour moving average @ 1.3905 to maintain near-term control.

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GBP/USD D1 02-08

That said, key resistance still lies ahead closer to 1.4000 for the time being in cable.

Elsewhere, AUD/USD is up 0.1% to 0.7355 from 0.7345 earlier and USD/CAD is down 0.1% to 1.2458 from 1.2470 at the tail-end of Asia Pacific trading.

Overall, some light changes but nothing that stands out too much just yet.

The yen is also a touch softer with 10-year Treasury yields steady at 1.24% while equities are showing a more risk-on appetite at the moment.

European indices are up nearly 1% across the board while S&P 500 futures are up 0.6%.

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