The strong US jobs gain reported on July 3 failed to instill any kind of traction for the greenback, which fell against all the major currencies over the past week. The only exception was sterling. It slipped by about 0.2% against the US dollar, on the back of some disappointing data and a decline in UK yields. The Swedish krona and the Japanese yen were surprisingly strong. The former gained 1% against the dollar, recouping about 2/3 of what it lost the prior week in response to the unexpectedly large (50 bp) rate cut. Higher than expected inflation (doubling of the underlying rate to 0.8% year-over-year and a rise ... (full story)