While the U.S. dollar traded higher against most of the major currencies today, the NY session was marked by profit taking on long dollar positions. With the exception of the NASDAQ, U.S. equities retreated and along with the move in the greenback this has many investors wondering if we’ll see a deeper pullback in the dollar and stocks. There’s no doubt that recent moves have been exaggerated but a large part of it can be attributed to the unwinding of short positions followed by the reestablishment of fresh longs. The U.S. dollar index climbed to its strongest level in 14 years today with USD/JPY rising within 25 ... (full story)