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Dollar index (USDX) slips back towards 104.00

The gains in the wider dollar, as gauged by the price action in the Dollar index (USDX) have dissipated since peaking yesterday above 104.40 and now the index is dropping back to test the 104.00 handle. The drop back now today has been delivered by a rise to session highs just now above 1.0770 in the EUR/USD and a push higher in the GBP/USD towards 1.2625 just now. The index is now trading back underneath its 100 day moving average once again. The dollar has lost steam and it is rather uncertain as to what news will lift it again today. Of course US treasury yields will be front and centre in that regard today. 

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