The market is showing euro and sterling bulls little mercy. It seems that only the briefest and shallowest upticks are seen before new lows are seen. The fact that the several bilateral dollar exchange rates are going through 200-day moving averages puts in on many medium-term investors radar screens for the first time in a year. The dollar move has accelerated. The Dollar Index rose about 1.3% last week, the third weekly advance, but to put this run in perspective, it has risen in 11 of the past 14 weeks. Such a move, we find, is typically a result of both sides moving, as there is good news in the US and less so ... (full story)