US dollar nabs a bid as New York rolls in
US dollar has struggled so far in European trade
The US dollar has found some life as New York ramps up for the day. The dollar hit session lows across the board within the last hour but it's bounced 30-40 pips across the board.
The move in cable is particularly stark. After hitting a session high at 1.3924, it's dropped back to 1.3863 as it pulls a US turn. One driver was the comments from Mester, who continued to take a hawkish approach, noting that fundamentals in the US economy are very strong.
Stock futures have also pared losses with the S&P 500 trading at 2646 after touching 2637 at the lows.
What's next? It will be all about the ebb and flow today with the economic calendar empty.