The Dollar was firmer to start European morning trade, but saw that lead wane over the past hour or so.
EUR/USD was down at 1.0875 but is now back up to 1.0917. The pair’s short-term bias continues to side with the sellers, but trading sentiment today seems rather mixed. GBP/USD was also down at 1.3045 earlier but is now trading up 0.2% near 1.3100.
It’s hard to attribute anything to the movements we see as it’s only a slight pushing and pulling action in my opinion.
USD/JPY remains fairly stable, however, holding around 123.70-90 as bond selling holds steady, although Treasury yields are below highs seen earlier in the day. If anything else, keep paying attention to the bond market. This is where the focus is on the levels we see in broader markets.