One can point to more sluggish risk sentiment with equities keeping lower and bond yields holding steady so far on the day, but the dollar was already asking for a check since the latter stages of last week. Dollar bulls still needed to do more work then but they are putting in a good shift in European trading today, with USD/JPY now touching 142.00 and holding a break back above its 100-day moving average:
EUR/USD is down 0.9% to 1.0230 and GBP/USD down 0.8% to 1.1795 currently. Meanwhile, USD/CAD is up another 0.4% to 1.3435 and AUD/USD is down 0.8% to 0.6618 as commodity currencies are also pressured lower against the dollar today. I posted some charts earlier in the day in this summary post.
