The US dollar turned in a mixed performance last week, which given the softer than expected inflation, retail sales data, and industrial output figures, coupled with the poor technical backdrop, could be a signal that its decline in recent months has run its course. The dollar-bloc continued its advance, led by the Australian dollar's nearly 2% gain. Higher commodity prices (the sixth weekly advance for the CRB Index in the last eight week) may have helped. The persistent strength of the Australian and Canadian dollars has frustrated our attempt to pick a top. Both currencies made new multi-month highs. We ... READ MORE
