US Dollar (USD) is likely to trade in a range between 7.1080 and 7.1240. In the longer run, room for USD to drop below 7.1100; any decline is likely to be slow, and 7.1000 may not come into view so soon, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
OPEC did not make any changes to its forecasts in its monthly report, Commerzbank's commodity analyst Carsten Fritsch notes.
EUR/USD advances during the North American session after the European Central Bank decided to hold rates unchanged, while the Greenback weakened after the Consumer Price Index (CPI) report was aligned with estimates. At the time of writing, the pair trades at 1.1733 up by 0.34%.