Surging US COVID-19 cases finally caught up to the greenback this week. USD/JPY broke support on Friday with the US dollar trading lower against most of the major currencies. Aside from the Japanese Yen, the New Zealand dollar, euro and sterling benefitted the most from US dollar weakness. The Swiss Franc, Australian and Canadian dollars remained under pressure on Friday. US producer prices unexpectedly declined in June contributing to the sell-off in the dollar. No major US economic reports were released this week but that changes in the week ahead with retail sales, Empire State, Philadelphia Fed and June ... (full story)