The dollar recovered some of the ground lost yesterday during the pre-Europe session in Asia. EUR-USD drifted to the low 1.07s, making a low of 1.0701, after capping out yesterday at 1.0763. The euro, which has been the main vehicle for dollar trading of late, also weakened against the CHF, JPY, among other currencies. EUR-CHF, for example, was knocked back to the mid 1.08s after capping out yesterday at 1.0899. SNB's Jordan repeated today that the franc is overvalued. USD-JPY, meanwhile, lifted to the lower 123s, leaving a high at 123.05, having traded as low as 123.65 yesterday.
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