Dollar eases lower in European morning trade

<p>Equities are pushing the early gains further after the opening hour in Europe and that is putting a slight drag on the dollar now. EUR/USD is up 0.3% to 1.0930 and is knocking on the door of its 100-day moving average:</p><p>Tech shares are leading the way once again as dip buyers step in, with Nasdaq futures up 0.4% and S&amp;P 500 futures now up 0.3% on the day.</p><p>The greenback is seen easing lower, with USD/JPY also down 0.3% to 145.70 from around 146.00 earlier and GBP/USD is up 0.3% to near 1.2800 currently.</p><p>Looking at the near-term charts, the dollar is surrendering some control over to sellers again as we see multiple dollar pairs break back against the 100 and 200-hour moving averages against the greenback.</p><p>AUD/USD is also up 0.4% to 0.6440 from around 0.6420 earlier as buyers are pushing above its 100-hour moving average of 0.6415 currently. The dollar rally appears to have stalled – at least for now.</p><p>Elsewhere, 10-year Treasury yields are slightly lower on the day – down by 2.4 bps to 4.318%. But the flows in bonds tend to take on a life of its own in US trading, so just be wary of that.</p>

This article was written by Justin Low at www.forexlive.com.