The US Dollar (via the DXY Index) dropped last week for the second consecutive week, losing -0.67%, the first back-to-back weekly pullbacks since the middle of May. The catalyst was of little surprise, a July Federal Reserve meeting that suggested policymakers are shifting into a less aggressive stance moving forward. The two largest components of the dollar gauge were the leaders, with EUR/USD rates adding +0.11% and USD/JPY rates falling by -2.11%. GBP/USD rates did well too, adding +1.39%. It’s likely that we’re going to see a relatively more dovish Fed moving forward, whereby even if there are more rate hikes, ... (full story)