The dollar is softer today, reversing losses seen yesterday. EUR-USD has recovered above 1.0900, leaving yesterday's low at 1.0869, while the dollar ebbed to a 10-day low against the yen, at 120.50, and an eight-day nadir versus the Aussie, with AUD-USD rising to a peak of 0.7270. The move reflects the fact that the Fed's promise for gradual data-dependent tightening has headed-off the risk of runaway dollar gains, and December is looking likely to the biggest monthly loss the greenback has seen since April.
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