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Dollar tries to battle back as European stock markets open higher -check out the DAX

The dollar is trying to battle back in recent trading. That has seen the USD/JPY edge above the 142 handle and the EUR/USD slip back towards 1.0875. However, those gains look hard fought and besides they are just now receding a bit as I write. Meantime, the European equity markets have just reopened for business and of course it has been a positive start to the session. That was always going to be the case anyway. The DAX was edging back from a record opening around 16,950, but so far it is not making much of a downside impression as the US futures continue to hold gains. It seems like the chances of a noted gap fill for the German benchmark will rest solely with what the ECB has to offer later today. In the absence of anything there, the index is now lifting closer to the coveted 17k handle, currently trading at 16,980

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