The dollar is little changed against most major currencies, with EUR/USD still sitting in a less than 30 pips range on the day. The pair is stuck around 1.1035-50 mostly on the session as traders continue to weigh up whether or not the euro has the potential to break out on the week.

USD/JPY is also flat at around 133.70 at the moment while GBP/USD is down 0.2% to 1.2445 but not really indicative of much on the week. For the latter, the 1.2500 threshold remains key for any upside breakout.

Elsewhere, AUD/USD is up 0.2% to 0.6610 but just off fresh six-week lows from yesterday while NZD/USD is up 0.4% to 0.6140 as sellers are not yet able to find added impetus to retest the 0.6100 mark from the March lows.

In other markets, we are still seeing more of the same as noted here earlier. It is quite the snoozefest until we get to the US Q1 GDP data later it would seem.

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