Dollar bid as the London fixing approaches

The USD is running higher as the London fixing approaches. Yields are moving higher.

The Nasdaq index is now down -250 points. Crude oil is moving lower as well.

Looking at some of the major currencies:

• EURUSD: The EURUSD has moved back below its 100 and 200 hour moving averages that 1.1301 and .12954 and has one down to a US session low of 1.1275. The low for the day reach 1.12658. The low from yesterday reached 1.12595 and of those are the next targets on the downside.
• GBPUSD: The GBPUSD decline has been more modest with the price moving down toward its 100 hour moving average 1.32217. The low price just reached 1.32248.
• USDJPY: The USDJPY move down to test its 200 hour moving average in the US morning session near 113.43, found buyers against that level and moved back above the 100 hour moving average at 113.567. The next major target comes in against the highs from last Friday and Thursday between 113.771 and 113.806. The high from last week at 113.954 is another target
• USDCHF: The USDCHF testers cracked above its converged 100 and 200 hour moving averages at 0.9224. The price is testing the high for the day at 0.92365. The 38.2% retracement of the range since November 25 comes in at 0.92398. Above that is a swing area between 0.9249 and 0.92524. A trendline cuts across connecting highs from last week and yesterday in that area.