It's not just USD/JPY that is on the move so far today. The dollar is also marked lower against other major currencies, with EUR/USD being of particular interest as well. The pair is trading up slightly to 1.1040 after the Friday gains and looks poised to settle on a break to its highest since December last year.The thing about the greenback's struggle is that it comes despite traders stepping back on the more aggressive Fed rate cut pricing. I would've expected that to at least keep any dollar softness in check but it isn't quite the case so far.Traders are now pricing in just ~28% odds of a 50 bps rate cut next month. Meanwhile, there are ~95 bps worth of rate cuts priced in by year-end. B
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