10-year Treasury yields are down another 1.6 bps to 4.718% now and with equities also rallying so far in European morning trade, it isn't making things comfortable for the dollar thus far. In particular, USD/JPY is looking dicey as it could threaten to fall back below the 150.00 mark and that will invalidate a lot of the dollar momentum built up coming into this week.
EUR/USD is up 0.4% to 1.0615 and GBP/USD up 0.3% to 1.2183 on the day currently. Meanwhile, AUD/USD is also up at the highs as it climbs by 0.7% to 0.6438 and looking to come up for air as noted earlier here.
It's all setting up for the US jobs report tomorrow and in the meantime, as bond yields hold lower this week, that will keep the pressure on the dollar as risk trades perk up.