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Dollar extends losses into and after the 4pm Fix- USD/JPY falls below 144

The dollar has continued to lose traction this afternoon and fallen into the 4pm London fix a minute or two ago. Once again it seems like the USD/JPY is leading the way lower for the US currency and that has allowed the GBP/USD and EUR/USD to rebound further. The USD/JPY has fallen below 144 and hit a session low right as the bell struck 4pm here in London. The low seen was set a moment ago at 143.83. As is often the case, when a low print is set at this time, it might define the low of the session, but it is simply too early yet to reach that conclusion. The driver for this dollar weakness is due to a further fall in US yields this afternoon and they are not yet rebounding, so the dollar is now falling back further. The USD/JPY is currently trading at 143.74
 

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