I don’t know if there’s a special catalyst for the latest round of US dollar selling, which isn’t large but it’s noticible. There’s the latest story out about breaking up banks but that’s more of a distant threat than something for markets to price in. More relevant are today’s weak Empire survey and worries about the Bank of Japan later.
Commodity currencies are leading the way and AUD/USD is at a session high, up 36 points to 0.6990.
The euro has rebounded slightly from the slump following the ECB report so profit taking there could be at play as well.
Earnings from United are a spot to watch but the earnings calendar doesn’t really pick up again until Netflix on Thursday
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