The US dollar turned in an unexpectedly strong performance last week. It appreciated against all the major currencies, but the Australian dollar, and most of the emerging market currencies. Fundamental considerations after the disappointing March US employment report coupled with technical indicators favored a softer dollar. Instead, the dollar had one of its best week's of the year. The Dollar Index rose almost 2.8% on the week, retracing the bulk of the decline since the multi-year high was recorded on March 13. Technically, it appears that the Dollar Index has carved out a double bottom around 96.20-30. The neck ... (full story)