Dollar keeps steadier so far on the day

<p>As bond yields find some footing today, so is the dollar. USD/JPY is up 0.4% to 146.48 currently near the highs for the day as the dollar is steadying itself after the fall yesterday – which I would still argue is in part to do with a squeeze as noted <a href="https://www.forexlive.com/news/dollar-gets-knocked-off-its-perch-20230830/" target="_blank" rel="follow">here</a>.</p><p>EUR/USD is only down 0.1% to 1.0865 but you have to factor in the backdrop that traders are starting to lean more towards a 25 bps rate hike by the ECB for next month. Meanwhile, the antipodeans are the ones lagging with AUD/USD backing away from last week's high of 0.6488 to 0.6460 levels currently – down 0.3% on the day.</p><p>In any case, the moves so far are rather tentative at best. US futures are little changed and that reflects a more wait-and-see mood in stocks. We still have the US ADP employment data coming up later today and after the sensitive price action to US data yesterday, don't rule out another rush to the head later today as well.</p>

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