TOKYO, July 7 Reuters The safehaven dollar retreated from near a twodecade high against major peers on Thursday, tracking an easing in Treasury yields, while U.S. equity futures accelerated gains as investors continued to assess the economic outlook.

The euro clawed its way back from near a twodecade trough, while the commoditylinked Australian dollar surged amid a rebound in copper and crude oil prices.

The dollar index which measures the currency against six counterparts slipped 0.22 to 106.82, pulling away from the overnight peak at 107.27, a level not seen since late 2002.

The twoyear Treasury yield , which bounced from near onemonth lows to as high as 3.006 overnight, pulled back to 2.9629.

SP 500 emini futures pointed to a 0.3 advance for the U.S. stock index at the open.

The euro rebounded 0.25 to 1.01845 after sinking as low as 1.01615 on Wednesday, also for the first time since the end of 2002.

The Aussie leapt 0.55 to 0.6820, after sinking to a twoyear low of 0.67615 on Wednesday.

Brent crude retook 101 and copper climbed 3.

Risk sentiment looks to be in reasonable shape in Asia, and U.S. yields have backed off a little bit, so everything sort of fits together for the U.S. dollar to peel back slightly from its highs, said Ray Attrill, a strategist at National Australia Bank.

Commodities aren39;t in the world of pain that they were at the start of the week, so there39;s a positive story for commodity and procyclical currencies, and an overall softer…