The recent themes in the foreign exchange market continued last week. On the one hand, the dollar-bloc currencies and Norwegian krona trended higher, while the euro, and especially the yen, traded heavier. On the other hand, although some critics argued the Fed's 25 bp rate hike earlier this month was too timid, the Fed is signaling it could accelerate the pace. The interest rate adjustment continued in dramatic fashion. The Fed funds futures imply almost a 77% chance of a 50 bp move at the next meeting (May 4). The general resilience of the US economy, the tight labor market (with weekly initial jobless claims ... (full story)