The dollar is nudging higher now as we get into European trading, as the back and forth action among major currencies continues to play out. EUR/USD is down 0.2% to 1.0945 with GBP/USD down 0.3% to 1.2410, as the pound is not helped by the more sluggish UK retail sales data here.
Elsewhere, AUD/USD is down 0.7% to 0.6690 as the pair stays under pressure on a rejection of its 200-day moving average at 0.6741. Then, we also have gold which is down nearly 1% on the day as price continues to trade in and around the $2,000 mark all week. Of note, daily support around $1,981 is holding for now as seen below:
The dollar advance comes as we are seeing equities keep a little more sluggish but at the same time, Treasury yields are holding lower across the curve. That in turn is keeping the Japanese yen fairly bid as well, with USD/JPY being down 0.3% to 133.85 on the day.
