The Dollar was mostly higher through the London morning session, peaking just after the hotter U.S. PPI outcome. The DXY topped at a one-month high of 90.68, up from intra day lows of 90.35. Aside from PPI, data was mixed, with retail sales missing the mark, though upwardly revised previous months data took the sting out. Industrial production came in better than consensus forecasts. Dollar buying, which was largely a function of pre-FOMC short covering petered out by mid morning, with major pairings largely turning sideways into the close. The U.S.

The dollar has been trading steady-to-softer in the latest phase, putting a little distance in from the rebound highs that were seen on Friday or yesterday versus the other G10+ currencies. The 10-year U.S. Treasury yield, a big focus for currency markets currently, has tipped back under 1.490% after scaling above 1.50% yesterday, which had marked about a one-third retrace of last week’s sharp yield decline. Oil prices have softened today after printing fresh 32-month highs yesterday, and other industrial commodities have also declined.

The dollar has been trading steady-to-softer in the latest phase, putting a little distance in from the rebound highs that were seen on Friday or yesterday versus the other G10+ currencies. The 10-year U.S. Treasury yield, which remains a big focus for currency markets currently, has tipped back under 1.490% after scaling above 1.50% yesterday, which had marked about a one-third retrace of last week’s sharp yield decline. Oil prices have softened today after printing fresh 32-month highs yesterday, and other industrial commodities have also declined.