Where is the USD Headed Today?

<p>&nbsp;The US dollar remained flat in the Asian session today amid slow market movement following the close of the US market for the Labor Day holiday on Monday.</p><p><br /></p><p>Against most major currencies, the dollar index which measures the strength of the greenback traded little changed at around 104.10.</p><p><br /></p><p>The king of currencies surged sharply at the end of last week's trade following the release of the US NFP jobs report.</p><p><br /></p><p>Although it is generally viewed as bleak, the US dollar continues to rise with a boost from a surge in US 10-year bond yields.</p><p><br /></p><p>The market is now focusing on China's stepped-up measures to stimulate the country's faltering economy, one of which is by easing restrictions on home purchases.</p><p><br /></p><p><br /></p><p>After Country Garden got approval from creditors to extend its main bond payments to avoid default, the Chinese real estate giant is still facing another debt crisis where the deadline for payments ends today totaling $22.5 million.</p><p><br /></p><p>This made the Aussie and New Zealand dollar trading lower in the Asian session ahead of the policy decision of the Reserve Bank of Australia (RBA) meeting today.</p><p><br /></p><p>Just published data from China's Caixin survey service showed the sector grew more slowly than expected in August.</p><p><br /></p><p>Meanwhile, the euro remained stuck around the lowest level by hovering below the 1.0800 price against the greenback, while the pound rose slightly to trade around the 1.2600 price level.</p><p><br /></p><p>In the meantime, the yen currency continued to record a lower decline to around the price level of 145.60 against the US dollar.</p>