On the most basic level, the key issue facing investors is whether the markets are at a turning point. The dollar had looked like it was going to break down, with the euro and sterling poised to have taken out the $1.40 and $1.70 levels respectively. The yen was also strengthening, pushing the greenback to the lower end of its three month trading range. Even the Canadian dollar, the worst performing major currency this year (-2.5% year-to-date) was advancing on the greenback. It had risen to its best level since January. Then, the US dollar staged a strong recovery last Thursday and Friday. Draghi’s press conference ... (full story)