Dollar steadier to start the session as risk stays guarded

<p>The greenback is in a decent spot as the session gets underway, maintaining a slight lead against most of the major currencies bloc. USD/JPY has pared losses from 144.30 to 144.55 now while the dollar is trading to the highs for the day against the likes of the aussie and kiwi. AUD/USD is down 0.4% to 0.6688 as risk sentiment stays more guarded to start European trading.</p><p>The post-NFP reaction was rather volatile but at the end of last week, AUD/USD snapped a run of five straight days of losses. But the downside action looks to be resuming today, with the greenback keeping steadier alongside slightly higher bond yields at the moment.</p><p>The 38.2 Fib retracement level at 0.6641 will be the next key support to watch for the pair, which helped to hold the Friday drop.</p><p>Besides that, NZD/USD is down 0.3% to 0.6225 while GBP/USD is down 0.1% to 1.2700 and USD/CAD up 0.2% to 1.3385 currently.</p>

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