It would be far too premature to draw any conclusions or contend that the tide has turned for the Greenback, but it has pared declines and the DXY is holding above a fractionally higher 90.538 low compared to yesterday’s 90.504 base amidst tentative recovery gains. However, the Buck’s mini revival owes much to weakness or a loss of momentum elsewhere and it remains on the back foot against certain major and EM currencies, such as the Pound, Euro and Yuan. Ahead, NFP may provide the Dollar with more lasting or sustained respite, but only if the BLS report is bad and sparks a pronounced risk-off market reaction. Back to the index, and a subsequent fade from 90.729 leaves the DXY meandering around 90.600.
