The dollar is ticking down

The US dollar index was down by 0.3% at 94.60 at 8:12 a.m. ET.

"The dollar on/off trade is back in full force with the two-way risks drowning out any discernible trend in G10FX," Mark McCormick, North American head of FX strategy at TD Securities, said in emailed comments.

"[W]e continue to think the downside risks are building for the greenback and look for release of the Senate tax bill to intensify this morning's pullback in the DXY," he added.

As for the rest of the world, here was the scoreboard at 8:15 a.m. ET:

• The euro was up by 0.3% at 1.1629 against the dollar.
• The British pound was little changed at 1.3122 against the dollar
• The Japanese yen was up by 0.5% at 113.28 per dollar
• The Russian ruble was down by 0.2% at 59.3768 per dollar
• The Indian rupee was little changed at 65.015 per dollar.

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