USD weakness against the major currencies is partly a correction to recent gains - BBH

Research Team at BBH, notes that the US dollar is offered against the major currencies, but appreciating against many emerging market currencies, include the South African rand and Turkish lira. 

Key Quotes

“The dollar's weakness against the major currencies is partly a correction to recent gains scored over the past month that was helped by the re-pricing of the risk of a Fed hike this year after a string of stronger than expected data.  However, the extent to which current demand was being met through inventories rather than new production came as a rude surprise to investors in the initial estimate of Q2 GDP last week.”