The selling pressure on the dollar has been a feature of recent weeks, seen to be accelerating in the past few sessions as major central banks have signalled that the Fed may not be on its own in tightening monetary policy for too much longer. However it now seems that equity markets are beginning to wake up to the fact that ultra-loose monetary policy may be in its twilight. European equities fell sharply into the close yesterday and Wall Street followed in a similar vein, with the early moves today showing a lack of buying intent once more. Could it be that this is merely end of the quarter profit taking though? ... (full story)