Tomorrow, both the ECB and the BOE are expected to make interest rate and monetary policy announcements. The ECB is expected to remain steady, and the BOE is expected to increase its asset purchase program.

Kathy Lien offers a look at a comparison between the economies of the eurozone and Great Britain. It becomes clear that in Britain things are still struggling along, and, as a result, policymakers at the BOE want to inject more cash into the situation.

The forex trading forecast for the sterling, then, is likely to point lower. Indeed, today the sterling remains down against the US dollar, even though the euro has largely recovered its earlier losses. This is likely to be a forecast of the future, in which more easing will send the sterling lower. 

Euro is heading higher in forex trading right now, recapturing some of the gains it lost earlier. It's been a choppy day for the currency market. Earlier, the euro saw gains as optimism over Greece took hold. Then, those gains were pared as the optimism faded. Now, though, there is enough hope again to help the euro.

It's been an interesting day as forex traders and others wait to see what kind of help the European Central Bank will offer Greece, and what measures Greek leaders will accept.

For now, euro is higher in forex trading. It has edge out the US dollar and is looking for some gains. However, a slight change in sentiment, or the smallest hint of bad news, could overset the gains and send the euro lower against the US dollar again. 

The US dollar is mixed in forex trading on the currency market today as an interesting situation arises. On one hand, Greek officials are trying to make it clear that they are attempting to meet austerity goals.

However, the country may not be able to meet the targets, and that could put the eurozone at risk. Right now, the US dollar is mixed as financial markets wait for direction. Euro is higher against the dollar on the expectation that a Greek debt will get done. The pound is lower against the dollar as equities fall on jitters about Greece.

For the most part, there hasn't been a lot of movement on the currency market. Most currency pairs are rangebound right now. Bigger movements are expected after an announcement about Greece is made. 

The Aussie has found a support level in forex trading against the US dollar today. Aussie is a little bit higher today, thanks to the latest news out of Australian. The RBA has decided to keep its interest rate at 4.25% -- even though the forex market had already priced in a cut.

Recent economic data is supporting the Australian dollar, and that is helping matters Down Under. However, Aussie's gains have been limited by the fact that there is a great deal of uncertainty over Greece right now.

Forex traders are waiting for news that Greece is prepared to accept austerity measures in order to receive a bailout. As long as Greece accepts these measures, then it should be possible for risk appetite to return. However, there is just enough doubt that risk currencies are unable to rally. For now, most currency pairs are rangebound.