Narrow ranges have been prevailing ahead of the U.S. August payrolls report. Markets are also trading cautiously into next Thursday’s ECB meeting, with some of the more dovish governing council members having this week expressed their concern about the appreciating trend of EUR-USD. The common currency has been settled in a narrow range in the mid 1.1800s after yesterday lifting on dollar weakness from the eight-day low at 1.1789. The narrow trade-weighted USD index (DXY) managed to scratch out a new one-week low, at 92.66, surpassing yesterday’s low by 3 ticks.

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