April was a cruel month for the US dollar. It fell against all the major currencies; even those whose central banks have negative yields. The greenback also fell against nearly all the emerging market currencies, but the Philippine peso and the Polish zloty. Through the first four months of the year, the dollar is lower against all the major currencies save sterling, which is off about 0.6%. Following the reluctance of the BOJ to ease policy further last week, the yen has moved back ahead of the Canadian dollar as the best performer (12% vs. 10.7%)here in 2016. Among the emerging markets, the Indian rupee (-0.3%) and ... (full story)