FX mostly lightly changed ahead of European trading ...Middle East

For once, USD/JPY is settling within a 50 pips range so far on the day. Overall, the reaction to the US CPI report yesterday has been rather underwhelming. The dollar did nudge a little lower while stocks climbed but not by a whole lot.Then again, traders are pricing between a 25 bps and 50 bps rate cut by the Fed. So, it's not that there is much catching up to do there. And perhaps there was some frontrunning from the PPI data on Tuesday.But there's still one more key release on the calendar later today in the form of the US retail sales. So, we'll have to see if that can complete the run of comfort for markets this week.Going back to FX, EUR/USD is trying to target a firm hold and break ab

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