The US dollar is continuing to sport a soft profile. In recent sessions, the dollar's weakness has been concentrated against the euro and sterling. It has been better bid against the yen, dollar-bloc and many emerging market currencies. However, today it is down across the board, and is essentially flat against the Japanese yen around JPY102. News that Australia's Q3 capital expenditures were stronger than expected at 3.6%, rather than decline as the consensus expected, helped trigger a bit of a short squeeze. The Aussie was lifted off of 12-week lows seen yesterday. The bounce is really more about market positioning ... (full story)