It is still the interest rate differential and the housing markets threats
what contain the current market sentiment pushing the greenback lower
across the broad.

The JPY is still depressed by the BOJ gradual pace of tightening policy
and it is still preferred trade to sell it versus the single currency for
170 and GBP for 250 at least. As the bright interest rate outlook in UK
amid the inflation concerns which we wait for its data of June tomorrow.
Surely high rates can give the pound the needed support to get above 2.04
by gods will.

Best wishes

FX Consultant

http://www.fx-recommends.com