The U.S. dollar rally continues as markets settle into defined trading ranges following recent volatility spikes. Treasuries remain quiet while gold retreated from $3,375 to $3,320. Currency markets show interesting divergence with commodity currencies (Australian and New Zealand dollars) displaying more elasticity than the euro, pound, and yen.

The kiwi dollar, after reaching 60 cents, pulled back 50 points, creating potential trade setups. Dollar-yen established a 141-145 range, while euro-dollar has consolidated between 113-114 for nearly a month.

Traders should note ranges are becoming more defined, with markets less sensitive to tariff news and showing disconnect from the four-day equity market rally.