The US Dollar Index (DXY) has regained the upper 105 area, reflecting some mild gains in US Treasury yields and little else.

Recall that, from a technical point of view at least, the DXY could/should recover to the 106.50 area to fill the gap left on the intraday/daily chart after last week’s slide. 

Given the strengthening conviction in markets that US rates have peaked, USD rebounds seem unlikely to get much further than that, all else equal.