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Dollar edges higher versus Europe- EUR/USD slips to session lows

The dollar is making progress right now, but it is not one-dimensional though, because the USD/JPY has stepped back from earlier highs above 149.55. However, where the dollar is firmer right now is versus the European currencies. The EUR/USD has dropped back below 1.0765 and the GBP/USD has retested the 1.26 handle again. Those moves have also seen a drop back in both the EUR/JPY and GBP/JPY from their earlier session highs. So, in that sense it looks more like a cross driven dynamic than perhaps it does a dollar based one. US yields are not backing off though and that is dollar supportive, despite rises for similar bond yields here in Europe. To be perfectly honest with you, the current price action is not very inconclusive, one way or the other and there is a distinct feel or inertia out there right now. It seems like some decent fresh news is required to really kick this into a more lively session. The EUR/USD is currently trading at 1.0766

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