USD slips

There is some modest US dollar selling at the moment as we head into the London fix.

It could be that we've found a bottom on a few fronts or that there are some orders to be done ahead of the weekend. EUR/USD is up to 1.1234 from a low of 1.1207. AUD/USD is also 15 pips off the floor.

Watch to see if the bid holds up after the fix.

The Fed's monetary policy report is also due up, but it's not likely to be a market mover.