Dollar holds tentatively lower so far on the day

<p>The greenback is down slightly on the day but I wouldn't really read too much into it, at least for now. EUR/USD is up 0.15% to 1.0515 while GBP/USD is up 0.35% to 1.2175 on the day. In comparison to the moves this week, the changes today don't mean anything much. Not especially when Treasury yields are continuing to hold at the highs.</p><p>10-year yields in the US are now up 2.9 bps to 4.636% and off the lows earlier today around 4.589%. That is something to be wary about as the continued selling in Treasuries is likely to keep the dollar underpinned in the big picture. The greenback has already enjoyed a good run of gains so far on the week, so the slight retreat today doesn't hurt its standing by much.</p><p>USD/JPY is still slowly testing the limits of intervention fears as it holds above 149.00 with buyers hoping to try and hit the 150.00 mark. Meanwhile, EUR/USD is knocking on the door of a push under 1.0500 for the first time since January. And then, we have gold which has broken below $1,900 to its lowest levels since March at around $1,873 currently.</p>

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