ForexLive European morning wrap: Pound takes a late hit in an otherwise indifferent session

Forex trading headlines from the European session 2 July RBA leaves rates on hold at 2.75% RBA statement favours weaker aussie dollar Australia's Bowen says economy will benefit from weaker AUD Nikkei closes up 1.78% at 14,098.74 Greece has 3 days to reassure lenders it can deliver on bailout pledges UK Markit construction PMI june: 51.0 vs 51.1 exp   50.8 prev Eurozone PPI may: m/m -0.3% vs -0.2% exp -0.6% prev BOE's Bailey says there has been slippage in banks building capital buffers BOE's Tucker says market reaction to Fed comments was " a warning shot across our bows" BOE's Kohn says monetary tightening in UK is " some way off" Markets really do seem to waiting for Thursday's ECB and BOE decisions and we've had a really quiet morning here too following on from a lifeless Asian session. USDJPY once again had a run up on the back of a firmer Nikkei but failed at 99.90 ahead of the strong 100.00-100.20 resistance which we've been reporting. The pair fell back to 99.63 but looks to have support down there. Yen pairs followed suit. EURUSD tried another attempt on 1.3100 but came second as sovereign wealth funds were seen selling above 1.3070. EURAUD also came in for a slap down to 1.4160 from 1.4220 undermining the euro further with EURGBP dropping to 0.8566. Both pairs have since rebounded as I write. The aussie dollar had come in for a slap after the RBA left rates on hold but spoke in dovish terms again pointing out the benefits of a weaker currency. Cue AUDUSD dropping to 0.9153 from 0.9209 but has since rallied on the EURAUD sales but can't get back above 0.9200. GBPUSD followed EURUSD down but has since dropped further on its own exacerbated by EURGBP buying from 0.8570. Cable trading at 1.5165 being hit in a rush as I type. Hopefully a catalyst for other pairs to pick up the pace for the rest of the day.