The dollar rallied modestly after better durables data, though fell back some in morning trade, as Wall Street gave back the lion's share of opening gains. In addition, dovish Fedspeak from Dudley, who said a September rate hike "seems less compelling to me" than a few weeks ago had an impact. EUR-USD based at 1.1353 after the data, before rallying to 1.1437 ahead of the London close. As stocks caught an afternoon bid however, EUR-USD turned lower to match its morning base. USD-JPY topped at 119.91, then fell back to 118.92 lows before recovering to 119.76 on better risk taking levels.
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