The dollar is now trading nearly flat against the rest of the major bloc
Dollar pairs are holding within 10 pips of their opening levels with changes overall being less than 0.1% in the European morning currently.
The dollar was initially lower to start the day but has now seen losses pared as traders gear up for the release of the US non-farm payrolls later.
The risk mood is also more steady overall with equities holding a touch higher while bonds are barely moving as well so far today.
Looking ahead, it is going to be all about a trade on sentiment for the payrolls data after the Fed on Wednesday.
I don't think the labour market report will tell us anything new about the state of the US economy, but traders may yet allude to "good" versus "bad" data in trying to gauge the reaction in relation to Powell's message on the outlook two days ago.
As such, if the report is overall more steady with little to go on, markets may just interpret that as a "as you were" kind of situation.
