Dollar steadies but is the relief just temporary? ...Middle East

The dollar is surprisingly finding some steadier footing in European trading now, with USD/JPY itself up 0.15% to 147.70 on the day. That's quite a modest recovery from the low of 146.90 in Asia trading. Meanwhile, EUR/USD is also down 0.1% to 1.0980 and AUD/USD down 0.4% to 0.6620 currently. The latter is not benefiting from softer inflation data earlier today here.The kiwi is still leading gains on the day but has dropped from 0.6200 to 0.6150 against the dollar, after having been bolstered by more hawkish RBNZ prospects earlier here.The light bounce in the dollar comes despite softer bond yields once again while equities are starting to pick up some steam after two days of tepid momentum.

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