That push and pull feeling | Forexlive

The greenback was the best performing major currency yesterday as it continued its recovery path from the latter stages of last week. That saw a turnaround in near-term sentiment for some dollar pairs but traders are still looking rather tentative for now. The dollar is slightly on the backfoot today, with broader market sentiment also rather pensive ahead of European trading.

EUR/USD is up 0.1% to 1.0255 but keeping within a 27 pips range, with sellers still in near-term control after the drop yesterday here. USD/JPY is down 0.3% to 141.70, though buyers are also keeping near-term control after the upside push here.

S&P 500 futures are up just 3 points, or 0.07%, as tepid tones are prevailing for now. If risk does take a turn lower and builds on yesterday’s retreat, that might invigorate dollar bulls again in the session ahead.

Otherwise, we might be in for more of a push and pull kind of day with the holiday season coming up.