Daily FX Wrap Up

The Euro continued to consolidate its range against the greenback, finding support near the 1.2800 level. It has been a tight range bound day of trading with small swings up to 35 pips. The French GDP did make a small bearish move in the market before the EUR / USD bounded back to reach a high of 1.2853.

Looking at the USD/JPY, a temporary spike higher to 118.30 was the most action the pair could muster as a 30-point range above 117.70 support dominated price action. For the remained of the week, expect to see small moves in tight ranges. Looking ahead, no major economic news is scheduled for the remainder of the week.