US dollar is mostly rangebound today, turning in a mixed performance as traders look for direction and speculation about what’s next for the Federal Reserve raises questions about what’s next.

The Japanese fell today against all other most-traded currencies and dropped below the 101 per dollar level on positive data from the United States and signs that Japanese investors buy foreign bonds.

US dollar is showing strength today, heading higher as Forex traders look to the improving economic situation. When compared to other economies, the US economy is looking pretty good, and that is helping the greenback against its major counterparts today.

Japanese yen is mostly weaker today, dropping as the prospects of long-term weakness weigh on the Asian currency. With a plan in place to boost the monetary base, and with no one in the G-20 trying to rein in Japan, it looks as there is a clear field for yen weakness.

Risk appetite, prompted by China’s trade surplus, is helping high beta currencies against the US dollar today. Greenback is down almost across the board as the situation for the global economy is expected to improve, and as risk assets fare in demand.

Japanese yen is gaining ground today, thanks to the latest comments from Japan’s Finance Minister. Some Forex traders now believe that the recent yen weakness was overdone, and that some strength is in order. As a result, yen is gaining against many of its major counterparts.

US dollar is gaining ground today, heading higher on risk aversion, and gaining strength from the fact that the economic recovery seems to be progressing. Many Forex traders are especially interested in the dollar’s performance against the yen; it looks as though the greenback is ready to test the 100-yen level again.

The US dollar rallied today following yesterday drop as macroeconomic data from the United States was better than market participants have hoped for. The currency was especially strong versus the euro after the European Central Bank slashed its main interest rate.

Yen is mostly lower today against its major counterparts following the latest release of BOJ minutes. Even though there are some concerns about the aggressive monetary easing policy being pursued by the central bank, most of the policymakers are expressing confidence in the bank’s decision.

US dollar is weakening today, heading lower on the latest expectations for the US economy. The latest ADP report, along with expectations that the Fed will continue its asset purchase program, are contributing to dollar weakness.