US dollar gives back agains as cable crosses 1.2200

<p>Treasury yields are still higher but the earlier gains from the US dollar have evaporated. Leading the gainers are the yen and pound. The latter is now higher for the third day in a row and is back above 1.2200.</p><p>Could this be the start of a bigger retracement?</p><p>What happens later with the US jobs report will go a long way towards determining if this bounce has legs.</p>

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