The dollar started the day relatively poorly but is now bouncing back modestly in European morning trade. The greenback has pared declines across the board and is keeping near unchanged levels on the day now. As mentioned earlier today, the same drivers dragging down the dollar are still very much in play. And that will keep the dollar in a struggling spot barring a sharp correction in the precious metals space. There is some light profit-taking there with gold backing down after a trip to test waters just above $5,600 earlier today.