The US dollar is slumping into the London fix at the moment and it's not clear why.

Bond yields are at the highs of the day at the same time. That should be positive for the US dollar. US 10-year yields are up 6.7 bps to 3.12% and 2s are up 3 bps.

There are some flows chopping around Jackson Hole and liquidity isn't great at this time of year but this doesn't look fundamental to me.