Dollar's turn to dip as yen drives the moves once more

USD/JPY ducks under 121.00 to 120.92

And gives EUR/USD a lift to 1.7081

If it's not one , it's the other, but seemingly all of it is tied to the yen in some form

USD/JPY completes a 100 pips drop from 122.00 and it's giving a boost to other USD related currencies like cable and the aussie

It's all over the place at the moment and it's hard to put your finger on one reason. Japan faces economic problems and expectations that the BOJ will hold of extra QQE, the ECB are buying the kitchen sink. Flows are likely running around not knowing where to go. The US is still arguing whether rate rises are or aren't coming in June.

There's a ton of confusion and that doesn't make for good trading. Watch and trade the levels in play and keep your positions manageable and tight. If you're unsure then scale down your trading size or sit it out until things settle