Dollar trades back to little changed for the most part

The greenback held a slight advance against commodity currencies earlier but has seen that pared with the aussie and kiwi notably erasing their earlier drop against the dollar to turn flat in European morning trade now.


AUD/USD fell to a low of 0.7193 earlier but has pulled back up to 0.7226 currently but there is near-term resistance hovering around 0.7236-49 from the key hourly moving averages as pointed out earlier in the day here.

Elsewhere, EUR/USD briefly hit a session high of 1.1591 but is seen a touch lower still around 1.1576 as sellers maintain some light pressure on the day.

GBP/USD also has moved off a low of 1.3435 to keep closer to 1.3470-80 at the moment while USD/CAD is off earlier highs of 1.2720-30 levels to near 1.2700 currently.

The overall market mood is not much changed but equities have trimmed some of its heavier losses in the opening hour with US futures now seen down roughly 0.5% to 0.6% while European indices are down by around 0.8% to 0.9%.

Meanwhile, 10-year Treasury yields are still keeping lower, seen at 1.494%.