The dollar is benefiting from the over 100 pips jump in USD/JPY as pointed out here.
That and higher yields are providing a tailwind for the greenback today, even though the latter has been a bit of a mixed factor as of late. But for today, the dollar is sitting higher with EUR/USD down 0.3% to 1.0950 and GBP/USD weighed lower by 0.4% to near 1.3130:
In the context of the FX landscape at the moment, I still see yen pairs as the key area to focus on. AUD/JPY is extending its breakout to its highest since August 2015 with NZD/JPY to its highest since June 2015. The aussie and kiwi have been rather resilient performers over the past month or so although the kiwi has given back some of its earlier gains with NZD/USD now down from 0.6950 to 0.6930.
As for the dollar in general, the key pair to focus on is USD/JPY right now and the upside break continues to allude to a potential push towards 125.00, as long as the rout in the bond market keeps up.