LONDON (AFX) - Major currencies were locked in narrow ranges against each other in late trade amid a lack of fresh leads, dealers said.
The day's US data had minimal impact. Although headline US industrial output fell 0.7 pct on the month in June it appeared to have been offset by upward revisions to the May and April data. Industrial output in May was revised up to a 0.5 pct fall, from the initial estimate of a 0.8 pct dip while the April figure was revised to show a 0.5 pct drop, compared with the 0.6 pct decline previously.
For now all eyes remain on US Federal Reserve Chairman Alan Greenspan's speech on monetary policy in Congress tomorrow, dealers said.
Given the revisions to the US data, the net impact of the headline figure for June was very small, Nick Mertchev, economist at Halifax said.
"Again, in terms of GDP growth, the data will have little implications," he said.
Market focus remains very much on Greenspan's speech tomorrow, he added.
The euro continued to hover just above 0.85 usd, gaining little momentum from the US data.
Sterling was also little changed with the market paying scant heed to UK inflation data.
"June's outturn for the RPI excluding mortgage interest payments (RPIX) was a carbon copy of the result for May, with the year-on-year rate remaining at 2.4 pct, a whisker below target," Philip Shaw, economist at Investec said.
While this was a slight disappointment, there was little change in currency markets, he added.
Tomorrow's labour market report could have more of an impact, Mertchev at Halifax said.
Dollar-yen was slightly lower continuing the trend seen after the Bank of Japan downgraded the country's economic assessment.