Small gains for the dollar and the yen to begin the session
Cable in particular looks to threaten a move back below the daily support @ 1.3055, as the dollar also advances against other major currencies. Noticeably, almost all of the aussie's earlier gains against the dollar from the upbeat employment report is erased now.
EUR/USD also fell to a low of 1.1626 while USD/CAD pushed to a high of 1.3188 on the day. Ranges are still relatively narrow still, but it's the start of something at least.
More importantly, the dollar index looks to have moved back into the resistance "air pocket" between 95.15 to 95.53 once again. Third time's the charm maybe for dollar bulls? It's still early days but let's see.
The yen is also surprisingly holding up in spite of dollar strength across the board - even as US Treasury yields are up by 1.3 bps on the day. It's a bit of a puzzle really for the yen, but I'm guessing it is benefiting from technical plays in EUR/JPY and GBP/JPY.
