Depending on where you look, the dollar is seeing its post-NFP gains pared back by quite a bit. EUR/USD has erased its losses from yesterday as it climbs back up by 0.4% to 1.0905 currently. Meanwhile, GBP/USD is up by 0.5% to 1.2440 as it also wipes out the drop since Friday's data.
That said, EUR/USD still has key resistance looming above it at 1.1000 while GBP/USD needs to work through resistance at 1.2500 to really solidify a further upside move.
Elsewhere, USD/JPY is down 0.4% to 133.10 as bond yields are also holding lower so far on the day. 10-year Treasury yields are down 3 bps to 3.385% currently as traders reserve some caution ahead of the US CPI data tomorrow.
The pair is trading back under its 100-day moving average (red line) at 133.30 now, as sellers look to try and seize back some control of the momentum.
Looking over to commodity currencies, USD/CAD is down slightly to 1.3490 with the BOC also in focus tomorrow. Then, we have AUD/USD which is up 0.5% to 0.6675 but that isn't indicative of much after the recent retreat following the RBA last week.