The US dollar has been supported recently despite a dovish repricing triggered by Fed’s Williams and Fed’s Jefferson comments that pushed back against expectations of a rate hike in October. The main reason were risk-off flows into the greenback due to European debt concerns. The focus has been particularly on France, where political uncertainty and concerns over the country's large fiscal deficit have recently pushed French government bond yields higher and widened the spread over German Bunds to its highest level since the eurozone debt crisis.
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