The dollar has traded softer for a second day. The USD index (DXY) edged out a four-day low at 92.63, which is nearly 1% off the five-month high that was seen on Wednesday. EUR-USD remained below the rebound high posted yesterday, but lifted back above 1.1900 after dipping to an intraday low at 1.1891, suggesting the pairing has underlying demand after posting its first back-to-back daily gain since mid April. USD-JPY has chopped around the low to mid 109.0s. The pair posted an intraday high of 109.57 in before taking a near 40-pip tumble to a 109.19 low at the Tokyo fixing (00:50 GMT).
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