The USD has been getting it’s lead in recent months from commodity markets and their big shake-up in margining requirements has unsettled those markets and led to uncertainty in the FX market. Dealers are unsure what they should be doing but will jump on moves as they start to develop so we can expect these types of markets to persist; periods of inactivity followed by spikes in either direction.
We are having one of those inactive periods this morning. Remember that the usual modus-operandi of the Asian market is to counter-trade the dominant overnight move.