USD gives back the New York session gains
It's been a 30-40 pip roundtrip for the US dollar today. It climbed early with USD/JPY ticking to 112.46 from 112.15 but in the last few hours it's sank back down and is back to where it was before North America arrived.
There wasn't much driving the move higher, nor leading to the selling.
Fed speculation is rampant. The dollar got a lift yesterday and early today on talk of John Taylor taking over the Fed but that's a tough bet to hold, because there is still plenty of uncertainty, including on what he would do with rates.
Looking to the day ahead, cable will be in focus with some major events coming up. On the US calendar, there is are housing starts and the Beige Book in the day ahead.
