The dollar was down against benchmark currencies during forex trading yesterday as the Q2 earnings season got underway.With several Q2 reports expected from Goldman Sachs, JP Morgan Chase, Bank of America and Citigroup, equities traders are expected to set the tone for forex movements this week.Forexnews.com reports that the dollar has been strengthened by the sentiment of risk aversion that has pervaded in the wake of multiple reports casting doubt over the prospects for a US-led recovery.With attention now turning to corporate performances, weak earnings data from the country's big-hitting banking institutions will likely push the dollar higher as forex traders seek a hedge currency.The yen is also expected to rise on weak performances, while unexpectedly strong results may provoke a migration to higher yielding currencies as investor confidence returns.Speculation is growing that Goldman Sachs will announce a strong return to form when it produces its Q2 results later today.Results from Google, General Electric, Johnson & Johnson and Intel are also eagerly anticipated.