The dollar majors have been seeing narrow ranges. The consensus view remains for ongoing robust recovery for North America and Europe, and many other major global economies. The uncertainty remains over the timing and extent of monetary policy stimulus reduction. Incoming data releases are, overall, collectively affirming that activity is bouncing back strongly. The German Ifo business confidence surged to 101.8 in the June headline, for instance, from 99.2 in May. The data was much stronger than expected, although not a total surprise after the stellar PMI readings yesterday.