Euro held back from comeback by easing bias

The four major reserve currencies (dollar, euro, yen, and sterling) have been confined to relatively narrow trading ranges against each other over the past six months. This follows a period of big exchange rate moves in the second half of last year and early part of 2015.

That is not to say that there have not been big moves on forex markets in recent months.

Currencies such as the Aussie, Kiwi and Canadian dollars have come under a lot of pressure from the weakness of commodity prices and associated slowdown in the Chinese economy.