All quiet on the forex front, or so it has seemed with the main currencies having settled in narrow ranges since yesterday. Stock markets have declined in Asia, and U.S. equity futures are also pointing south with investors still factoring in yesterday's weak trade data out of China. This backdrop saw AUD-USD extend its Monday decline, making a six-day low of 0.7189 in early trade in Sydney before settling in the low 0.72s. The G3 currencies, meanwhile, have been subdued. EUR-USD has hovered near the 1.1400 level, holding below yesterday's three-week peak at 1.1411.
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