Three factors are underscoring the bid in the US dollar:

  1. The FOMC make a strong commitment to continue tapering and worries about low inflation were muted
  2. Trouble in Ukraine is lending a safe haven bid
  3. Emerging markets are feeling some heat with RUB and ZAR down 1.4%

Technical selling in EUR/USD is adding to the moves. The low so far is 1.3725 but there are medium-sized bids from there down to 1.3720. More at 1.3700.