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Dollar stagnates as risk tones improve

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Dollar stagnates as risk tones improve

| Breaking News Updates | Yahoo news

European stocks are now trading higher on the day, posting small gains while US futures have also reversed heavy losses to be in positive territory for the time being. S&P 500 futures are up 0.1% after falling 0.7% earlier, while Nasdaq futures fell 1% earlier to rise 0, 2%.

The change in mood saw the dollar and yen slip in European morning trade as commodity currencies start to gain a head start.

Both AUD/USD and NZD/USD are up 0.4% to near session highs, the former at 0.7210 and the latter at 0.6797. It should be noted that USD/CAD is breaking at 1.2475 and testing a new breakout of its 200-day moving average:

The loonie’s supply is also being helped by higher oil prices, with WTI crude rising to $86.70 after a slight pullback to $86.00 earlier.

Higher yields are still in play, but bearish buyers of stocks are starting to strut a bit so far. We’ll see if that can follow and if it does, it could mark a nice change of fortune for stocks for the rest of the week.

Dollar stagnates as risk tones improve

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