From Marc Chandler at Bannockburn Global Forex:
Overview: With Japanese markets closed for a national holiday, the dollar was offered in early turnover today, and its recent losses were initially extended against several currency pairs. However, it recovered and early losses were pared or reversed. Among the G10 currencies, the dollar is higher against the Swiss franc and Japanese yen. The German election results were very much in line with the polls and a CDU/CSU-SPD coalition seems likely, and maybe the Greens too. Emerging market currencies are mostly firmer against the US dollar.
After the pre-weekend tumble in the US equities, Asia Pacific markets mostly fell today. Of the large bourses, Australia was an exception with its small gain. Europe's Stoxx 600 is up about 0.25%. US index futures are pointing to a higher open. Benchmark 10-year yields are little changed, putting the US 10-year Treasury yield near 4.43%. Gold is firm near $2940, a little below last week's record. April WTI opened below $70 and has recovered to about $70.65 in European turnover.
USD: The Dollar Index made a new low since early December in Asia Pacific trading today near 106.10 before recovering fully by late European morning turnover. A close above last Friday's high 106.75 would lift the technical tone....
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