A report just released from a leading global investment bank suggests there will be considerable dollar outflow for the month-end. That is looming this week and with the US markets winding down for Thanksgiving on Thursday it could come ahead of the the spot month-end trading day on Wednesday. That remains to be seen and it is also important to note; that this might not kick in at all today. Also, there is no guarantee this month-end model is accurate, as that is often the case. Perhaps we need to see, if research from other leading investment banks matches that outlook. Nevertheless, it is something to be mindful of over the next couple days and with particular focus on the USD/JPY and the EUR/USD. In terms of the reaction so far today in the US treasury markets, it is also important to keep an eye on those US yields, because in the short term that is a key driver too. The USD/JPY is not paying much attention right now though, currently trading at 154.43