Yesterday we had at least three currencies make new highs against the USD; the CHF, AUD and SGD. The trend against the greenback remains very strong indeed and seemingly pointless to fight against.
EUR/USD is in a short-term range trading consolidation. USD/JPY is giving back some recent gains but still remains the most likely USD pair to post some short term gains. The BOJ/Kampo are reportedly still buying on dips but if the SGD, KRW, CNY etc continue to rise against the USD, then the Japanese authorities will get less support in their interventionist policies.
Good luck today and TGIF.
