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No rebound for the Dollar index (USDX) yet today

Yesterday, the weaker US PMI data dealt the dollar a blow. The drop below 50 in the flash April manufacturing reading was not greeted well by the US currency and it weakened across the board, except versus the Yen. Beyond the USD/JPY, that weakness is well judged by looking at the price action in the Dollar index (USDX). That news sent the index tumbling below the 106 handle again and ensured it closed well below that level too. The gains in US stocks and US yields resultant from that data was a major driver behind that lower close. The index fell back to 105.59 and later closed at 105.68. It has not managed to bounce much above that level so far today. The sideways price action during the Asian session has been covered by 105.59 to 105.70. It is currently trading around 105.67 
 

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