USD rallies a bit but still below recent highs

US Dollar Trading for the Day
 Dollar rallies a crumb but unmoving below current highs
 Gives support a few gains in early New York
 Lower Volumes
Overnight foretaste
 Stare for USD to do business softer overnight
 Should get settle down ahead of US statistics in the morning

Review
The US Dollar continues to progress on low volume and light stops as the EURO finds a fresh short for the week at 1.4011; traders note down that the Greenback appears all set to crypt the 1.4000 region but sellers are being paid scarce. With the announcement of the cuts in the OPEC production and one more hurricane bearing downward on the US main energy hub, traders are dissatisfied the Oil market has not rallied further than a few cents leaving EURO prepared to try for lows. Although outlook is bearish and prices have edge to a new 2008 low, the single-currency is representing light bids on the advance to 1.4000 areas. British Pound followed EURO lower at 1.7537 for an inferior print, well off the weekly lows, signifying that the GBP have more bid interest as compared to EURO at this position. Cross diffusion is obvious as traders alter positions ahead of US statistics due tomorrow. Violent traders can purchase EURO on a try to make lows below the 1.4020 region. USD/JPY moved off the 100 bar MA for a advanced print at 107.95 but offers capped the progress under the 50 bar MA signifying that the USD/JP is trading two-way and presenting an prospect to get small on rally. Practical traders note down that volumes have been light on the move making for a possible whipsaw the next 24 hours. Swiss franc has moved as well toning the fresh weekly highs at 1.1370 but the level is low down traders speak. Loonie as well has attempted to build a high close above the 1.0700 hold; advanced prints are at 1.0746 but giving back a considerable amount into the close. Loonie looking for one more close below the 1.0700 handle at 1.0690 areas. As projected, the US Dollar did in fact expand its range today but bearish Dollar were let down that the progress was a rally in advance of the London fix. According to analyst, the Dollar has over-extended to the positive aspect and the continuing require of volume on the move advanced combined with the move away from the highs suggesting that the US Dollar is certainly topping. Additional gains will likely be tricky with more USD unenthusiastic reports due the next 48 hours; look for one two-way move during the night session with the USD backing off somewhat in Asia.