The US dollar extended its slide against all of the major currencies on Friday despite the recovery in stocks. As we’ve often said, currency traders are generally more cautious than equity traders and the greenback’s decline reflects their concern about the raging coronavirus pandemic in the US and its impact on the economy. Today’s University of Michigan consumer sentiment index gave us a first look at how Americans feel after the election. Not only do they worry about how the economy is doing but the sharp decline in the expectations component of the report tells us that they are concerned about the months ahead. (full story)