After a bit of a pause in the action following the Tuesday moves, markets look to be following through on that towards the end of the week. It was a case of sell the dollar, buy everything else in European trading today.
Treasury yields dipped further and that proved to be a drag for the greenback as USD/JPY fell back below 150.00 and that reverberated to other dollar pairs as well during the session.
The pair fell from 150.60 to 149.25 and is holding just above that, still down 0.9% on the day now. That helped to facilitate a rebound in EUR/USD and GBP/USD, with the former up 0.1% to 1.0860 from around 1.0830 earlier while the latter is up to 1.2430 after being down to 1.2375 after a poor UK retail sales report.
The commodity currencies are also looking to claw their way back higher after a tepid showing in the last few sessions, with AUD/USD in particular nudging back towards the 0.6500 mark.
As yields retreat, stocks are also continuing their good form with European indices set to end the week with a flourish and US futures also a touch higher on the day.
In the commodities space, gold is up and eyeing the $2,000 mark while oil is also up over 1% currently to near $74 as traders are snapping up everything while selling the dollar in return.