The big Dollar has recovered some ground overall so far today, reflecting modestly higher US Treasury yields and weaker Eurozone data. That does not mean there is much scope for a significant USD recovery, however. 

Broader trends remain bearish and December is typically a weak month for the USD broadly (average return of around -0.9% in the December month over the last 25 years). 

Supposedly USD-negative month-end rebalancing flows have yet to show up but US data reports today may refresh USD-bearishness. Data are expected to reflect a softening labour market (rising claims), slower spending and weaker core inflation via the PCE deflator (3.5% YoY expected versus 3.7% in September).