Traders note that the move higher in the USD was well-coordinated across the major pairs but volumes were not high at all suggesting that the strength might be short lived; which it was.

The USD continued mixed today trading higher against the GBP and EURO but flat to lower against JPY.

The USD is mixed to firmer this morning coming into New York higher against the EURO, weaker against the GBP and steady against the JPY.

Overnight saw the USD mixed-to-firm in Asia ahead of data from the UK; UK retail sales data and CBI data came out above expectations and the GBP rallied to score a high print at the 1.9730 area before aggressive offers capped the move.

Subdued trade was the rule overnight as Japan celebrated the Vernal Equinox Holiday; market conditions were thinner in Asia.

The greenback continued in two-way trade ahead of US data tomorrow; today’s action was confined to established ranges for the most part with the exception of GBP.

Traders note that the greenback is trading more technically this morning and expect that the majority of any action will be ahead of the London Fix as no real news is due after housing data at 7:30 AM CDT.

In a surprise move over the weekend, the PBOC raised interest rates 27 BP taking the one year deposit rate to 2.79% and the one year lending rate to 6.39% respectively.

The USD continued to trade in solid two-way technical action today after a weak finish from last Friday was erased overnight starting in Asia.

The USD is softer to start New York after breaking down overnight Asia.