While equities and bonds are firmer, it is the dollar's sell-off that stands out today. The greenback has retreated broadly. The euro is trading above the previous week's high for the first time in over a month, and the dollar was pushed back below JPY114.00 in early European turnover. The Chinese yuan is at four-month highs. The Antipodean and Scandi currencies are leading the move against the dollar among the major currencies. The JP Morgan Emerging Market Currency Index is near two-week highs and fraying the 20-day moving average for the first time in a month. The risk-on mood, helped by the anticipation of robust ... (full story)