US dollar gives back some of its gains

<p>The euro and pound are leading a rebound against the US dollar, trimming some of the earlier moves as Treasury yields also give back some gains.</p><p>The market is sorting through the US debt downgrade and trying to make sense of what comes next. Some initial forced selling of Treasuries may have hit earlier on the downgrade but dip buyers may now be wading in.</p>

This article was written by Adam Button at www.forexlive.com.