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Dollar-euro holds in narrow range after Easter break

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(Globalpost/GlobalPost)

Major currencies were little-changed Tuesday after the end of the Easter holiday with little news to ease worries over the festering Ukraine crisis.

The euro-dollar rate clung to the narrow range held over the past week, with the euro gaining slightly to $1.3804.

The yen also move little, while the British pound scored modest gains.

Kathy Lien of BK Asset Management said that the lack of economic news had contributed to the becalmed market.

But she warned that volatility could increase in the coming days, especially with data expected in the next 24 hours.

"Three of this week's top six event risks are scheduled for release before the NY trading session," she said, pointing to inflation data from Australia, the HSBC purchasing managers index for China, and flash PMIs for the eurozone.

"For the past six trading days, there has been very little movement in the euro with the currency pair trapped within a 90 pip trading range," she said.

"Tomorrow's eurozone PMI report has the potential to trigger a breakout in the pair because it provides investors with the most up-to-date information on how the eurozone economy is performing."

2100 GMT Tuesday 2100 GMT Monday

EUR/USD: $1.3804 $1.3793

USD/JPY 102.60 yen 102.58 yen

EUR/JPY 141.65 yen 141.50 yen

GBP/USD $1.6824 $1.6791

EUR/GBP 0.8205 pounds 0.8213 pounds

USD/CHF 0.8850 franc 0.8850 franc

EUR/CHF 1.2217 franc 1.2207 franc

pmh/vs

http://www.globalpost.com/dispatch/news/afp/140422/dollar-euro-holds-narrow-range-after-easter-break-0