The US dollar is at the lows of the day across the board, led by an 80 pip decline in USD/JPY. The leg lower was kicked off by falling oil prices which weighed on Treasury yields and also helped to boost equities.It's resulted in a risk-positive environment that's typical of USD softness. A quick spot check:EUR/USD down 30 pipsUSD/JPY down 80 pipsGBP/USD up 35 pipsUSD/CHF down 37 pipsCommodity currencies flat, erasing earlier declinesUSD/JPY has been a real roller-coaster to start the year and is now challenging the post-ISM low from Friday.The risk with everything trading off of oil is that it can all reverse quickly. Oil got as low as $70.13 and is now back to $70.95 so some of that is alr
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