Looks like everyone has climbed back on the short-dollar train after a rebound by the greenback earlier in the session. Now that everyone is on board, the sovereigns are said to be taking the other side.
Case in point: Cable saw heavy buying in the 1.6180/90 area but has come off pretty quickly and now trades at 1.6175. EUR/USD has pulled back to 1.4530 from 1.4548 and USD/JPY is back above 91.00 from 90.92 lows. Dealers report central bank interest to buy dollars in all those pairs at range extremes.
