The USD had a bit of bullish impetus early in the session but that is now dwindling. Most of the major pairs have returned to their mid-point on the session and it looks as though Asia is destined to be the slow mover this month.
A slightly worrying note for USD bulls will be that USD/JPY failed to post new highs despite US yields reaching 7-month highs at 3.5%. Also of worry to USD bulls will be that USD/CHF has actually fallen whilst this has been happening.
