Dollar recovers some ground as equities pare early gains

[forex4you]

Dollar recovers some ground as equities pare early gains

The dollar has now pared losses against the commodity currencies, with the euro and pound nudging lower as well against the greenback on the day. EUR/USD is now down 0.4% to 1.0920 and extending a drop from here after softer French data earlier. USD/JPY is still little changed though, down 0.1% to 147.08 as it is contesting its 100-day moving average as highlighted here.

The slight advance in the dollar comes as we see equities pare gains with US futures now flat and European indices also little changed and some marginally in the red after the opening hour. Treasury yields are still little changed on the day, so that's not offering too much else for traders to work with currently.

For now, the euro is the one suffering as it is retreating further from 1.1000 against the dollar while EUR/GBP is also down 0.2% to 0.8620 at the lows for the day.

                This article was written by Justin Low at www.forexlive.com.

Source: Dollar recovers some ground as equities pare early gains

forexlive.com